Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s stock price was up 7% during trading on Wednesday . The stock traded as high as $7.07 and last traded at $6.93. Approximately 7,247,728 shares changed hands during trading, a decline of 53% from the average daily volume of 15,519,895 shares. The stock had previously closed at $6.48.
Wall Street Analysts Forecast Growth
Several equities research analysts recently commented on LUNR shares. Canaccord Genuity Group dropped their target price on Intuitive Machines from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft initiated coverage on Intuitive Machines in a report on Tuesday, February 25th. They issued a "hold" rating and a $18.00 price target on the stock. Bank of America initiated coverage on Intuitive Machines in a report on Wednesday, February 5th. They issued an "underperform" rating and a $16.00 price target on the stock. Roth Mkm dropped their price target on Intuitive Machines from $20.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, March 11th. Finally, Roth Capital set a $20.00 price target on Intuitive Machines in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.38.
Read Our Latest Analysis on Intuitive Machines
Intuitive Machines Stock Performance
The firm's 50 day simple moving average is $17.43 and its 200-day simple moving average is $12.77. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -2.49 and a beta of 1.01.
Insider Buying and Selling at Intuitive Machines
In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business's stock in a transaction on 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 transaction, the director now directly owns 3,494,768 shares in the company, valued at $64,128,992.80. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven Vontur sold 9,266 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $22.50, for a total transaction of $208,485.00. Following the transaction, the insider now owns 98,656 shares in the company, valued at approximately $2,219,760. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 393,659 shares of company stock valued at $7,262,364 in the last three months. 73.68% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Intuitive Machines
Several institutional investors and hedge funds have recently modified their holdings of LUNR. LMR Partners LLP purchased a new position in shares of Intuitive Machines during the 3rd quarter valued at $110,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Intuitive Machines by 44.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company's stock valued at $836,000 after acquiring an additional 32,015 shares in the last quarter. Penserra Capital Management LLC grew its holdings in shares of Intuitive Machines by 16.5% during the 3rd quarter. Penserra Capital Management LLC now owns 147,857 shares of the company's stock valued at $1,190,000 after acquiring an additional 20,916 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Intuitive Machines in the third quarter worth $85,000. Finally, MetLife Investment Management LLC bought a new stake in Intuitive Machines in the third quarter worth $138,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.
About Intuitive Machines
(
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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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