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Intuitive Machines (NASDAQ:LUNR) Trading 8.7% Higher - Here's What Happened

Intuitive Machines logo with Aerospace background

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) was up 8.7% during mid-day trading on Thursday . The company traded as high as $22.97 and last traded at $22.68. Approximately 11,630,693 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 14,751,671 shares. The stock had previously closed at $20.87.

Analysts Set New Price Targets

Several research analysts recently commented on LUNR shares. Canaccord Genuity Group increased their target price on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a "buy" rating in a report on Wednesday, January 8th. Cantor Fitzgerald increased their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Finally, Benchmark upped their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Intuitive Machines presently has an average rating of "Buy" and a consensus target price of $15.80.

Read Our Latest Research Report on Intuitive Machines

Intuitive Machines Trading Down 0.6 %

The firm has a market cap of $3.03 billion, a price-to-earnings ratio of -7.34 and a beta of 0.92. The firm's 50 day simple moving average is $17.18 and its two-hundred day simple moving average is $10.55.

Insider Activity

In other Intuitive Machines news, SVP Timothy Price Crain II sold 400,000 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total value of $4,840,000.00. Following the completion of the transaction, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $4,390,001. This represents a 52.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the transaction, the director now 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 disclosure for this sale can be found here. In the last three months, insiders sold 1,432,086 shares of company stock worth $20,299,913. 73.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Waldron Private Wealth LLC acquired a new stake in Intuitive Machines during the third quarter worth approximately $83,000. The Manufacturers Life Insurance Company acquired a new position in shares of Intuitive Machines during the third quarter worth approximately $85,000. SG Americas Securities LLC acquired a new stake in Intuitive Machines in the 3rd quarter valued at $93,000. Creative Planning bought a new stake in Intuitive Machines during the 3rd quarter valued at $105,000. Finally, Nations Financial Group Inc. IA ADV acquired a new position in Intuitive Machines during the fourth quarter worth $244,000. 72.21% of the stock is owned by institutional investors.

Intuitive Machines Company Profile

(Get Free Report)

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.

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