Intuitive Machines (NASDAQ:LUNR) Trading 6.9% Higher - Should You Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s stock price traded up 6.9% during mid-day trading on Monday . The stock traded as high as $19.60 and last traded at $19.68. 2,254,876 shares were traded during mid-day trading, a decline of 84% from the average session volume of 13,785,128 shares. The stock had previously closed at $18.40.

Wall Street Analysts Forecast Growth

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

Intuitive Machines Stock Up 2.4 %

The company has a market cap of $2.75 billion, a price-to-earnings ratio of -6.67 and a beta of 0.92. The company has a fifty day simple moving average of $18.02 and a two-hundred day simple moving average of $11.30.

Insider Activity at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the 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 sale, the director now owns 3,494,768 shares of the company's stock, valued at $64,128,992.80. This trade represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Vontur sold 4,528 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total value of $88,748.80. Following the sale, the insider now directly owns 104,272 shares in the company, valued at approximately $2,043,731.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 771,632 shares of company stock valued at $12,947,078 over the last quarter. Insiders own 73.68% of the company's stock.

Institutional Trading of Intuitive Machines

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Intuitive Machines by 33.6% in the 4th quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company's stock worth $73,503,000 after purchasing an additional 1,017,706 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Intuitive Machines by 99.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company's stock worth $22,170,000 after purchasing an additional 609,118 shares during the period. Geode Capital Management LLC raised its holdings in shares of Intuitive Machines by 20.5% in the 4th quarter. Geode Capital Management LLC now owns 1,125,005 shares of the company's stock worth $20,437,000 after purchasing an additional 191,733 shares during the period. State Street Corp raised its holdings in shares of Intuitive Machines by 1.3% in the 3rd quarter. State Street Corp now owns 576,051 shares of the company's stock worth $4,637,000 after purchasing an additional 7,538 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Intuitive Machines by 24.5% in the 4th quarter. Northern Trust Corp now owns 338,836 shares of the company's stock worth $6,153,000 after purchasing an additional 66,581 shares during the period. 72.21% of the stock is owned by institutional investors and hedge funds.

Intuitive Machines Company Profile

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.