Intuitive Machines (NASDAQ:LUNR) Shares Up 8.1% - Here's Why

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s stock price traded up 8.1% during trading on Tuesday . The stock traded as high as $22.40 and last traded at $21.21. 10,512,767 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 13,502,047 shares. The stock had previously closed at $19.62.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Canaccord Genuity Group raised their target price on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Cantor Fitzgerald raised their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Benchmark increased their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Finally, Bank of America began coverage on shares of Intuitive Machines in a research note on Wednesday, February 5th. They issued an "underperform" rating and a $16.00 price target for the company. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $15.83.

Intuitive Machines Trading Down 8.3 %

The firm has a market capitalization of $2.54 billion, a P/E ratio of -6.15 and a beta of 0.92. The business's 50 day simple moving average is $18.79 and its two-hundred day simple moving average is $11.85.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the completion of the sale, the director now directly owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Steven Vontur sold 4,528 shares of Intuitive Machines stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total transaction of $88,748.80. Following the completion of the sale, the insider now owns 104,272 shares of the company's stock, valued at $2,043,731.20. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 771,632 shares of company stock worth $12,947,078. 73.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

Large investors have recently added to or reduced their stakes in the company. PharVision Advisers LLC purchased a new position in shares of Intuitive Machines in the fourth quarter worth $185,000. Voloridge Investment Management LLC purchased a new position in shares of Intuitive Machines in the fourth quarter worth $3,768,000. Soviero Asset Management LP lifted its holdings in shares of Intuitive Machines by 65.0% in the fourth quarter. Soviero Asset Management LP now owns 330,000 shares of the company's stock worth $5,993,000 after buying an additional 130,000 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of Intuitive Machines in the fourth quarter worth $4,971,000. Finally, Two Sigma Investments LP purchased a new position in shares of Intuitive Machines in the fourth quarter worth $33,255,000. Hedge funds and other institutional investors own 72.21% of the company's stock.

About Intuitive Machines

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.