Intuitive Machines (NASDAQ:LUNR) Trading 9% Higher - Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares rose 9% during mid-day trading on Friday . The stock traded as high as $21.07 and last traded at $21.06. Approximately 3,162,540 shares were traded during trading, a decline of 78% from the average daily volume of 14,603,064 shares. The stock had previously closed at $19.32.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LUNR shares. Roth Mkm reaffirmed a "buy" rating and issued a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, September 18th. B. Riley upped their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Canaccord Genuity Group cut their price target on shares of Intuitive Machines from $19.00 to $17.50 and set a "buy" rating on the stock in a report on Friday, December 6th. Benchmark upped their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Finally, Cantor Fitzgerald raised their target price on Intuitive Machines from $10.00 to $15.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $14.10.

Intuitive Machines Stock Performance

The company's 50-day moving average price is $13.04 and its 200 day moving average price is $8.05. The stock has a market capitalization of $3.07 billion, a PE ratio of -7.45 and a beta of 0.93.

Insiders Place Their Bets

In other Intuitive Machines news, CEO Stephen J. Altemus sold 61,432 shares of the firm's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.00, for a total transaction of $675,752.00. Following the completion of the transaction, the chief executive officer now owns 910,919 shares of the company's stock, valued at approximately $10,020,109. This trade represents a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kamal Seyed Ghaffarian sold 125,991 shares of the business's stock in a transaction on Monday, October 7th. The shares were sold at an average price of $7.43, for a total transaction of $936,113.13. Following the sale, the director now owns 3,494,768 shares in the company, valued at approximately $25,966,126.24. This trade represents a 3.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,080,704 shares of company stock worth $25,411,498 over the last three months. Company insiders own 73.68% of the company's stock.

Hedge Funds Weigh In On Intuitive Machines

Several large investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in Intuitive Machines by 31.2% during the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company's stock valued at $7,514,000 after buying an additional 222,136 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Intuitive Machines during the second quarter valued at $536,000. Bank of New York Mellon Corp purchased a new position in shares of Intuitive Machines in the 2nd quarter worth about $272,000. Stifel Financial Corp bought a new position in Intuitive Machines in the 3rd quarter worth about $525,000. Finally, FORA Capital LLC purchased a new stake in Intuitive Machines during the 3rd quarter valued at about $458,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

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.