Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s share price shot up 8.7% during trading on Thursday . The stock traded as high as $22.97 and last traded at $22.68. 11,630,693 shares traded hands during trading, a decline of 21% from the average session volume of 14,751,671 shares. The stock had previously closed at $20.87.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on LUNR. Cantor Fitzgerald increased their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Canaccord Genuity Group raised their price target on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Finally, Benchmark boosted their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $15.80.
Check Out Our Latest Stock Report on LUNR
Intuitive Machines Trading Down 3.3 %
The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of -7.37 and a beta of 0.90. The stock has a 50-day simple moving average of $17.04 and a 200-day simple moving average of $10.38.
Insider Activity at Intuitive Machines
In related news, Director Kamal Seyed Ghaffarian sold 177,734 shares of the company's stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $7.93, for a total transaction of $1,409,430.62. Following the sale, the director now directly owns 3,494,768 shares of the company's stock, valued at approximately $27,713,510.24. This represents a 4.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Timothy Price Crain II sold 400,000 shares of Intuitive Machines stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the completion of the transaction, the senior vice president now directly owns 362,810 shares of the company's stock, valued at approximately $4,390,001. This represents a 52.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,609,820 shares of company stock valued at $21,709,343 over the last ninety days. Corporate insiders own 73.68% of the company's stock.
Institutional Trading of Intuitive Machines
Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its position in shares of 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 during the last quarter. State Street Corp grew its holdings in shares of Intuitive Machines by 1.3% during the third quarter. State Street Corp now owns 576,051 shares of the company's stock valued at $4,637,000 after purchasing an additional 7,538 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of Intuitive Machines during the 4th quarter worth approximately $3,403,000. Squarepoint Ops LLC bought a new stake in shares of Intuitive Machines in the 2nd quarter worth approximately $536,000. Finally, Penserra Capital Management LLC lifted its holdings in shares of Intuitive Machines by 16.5% in the 3rd quarter. Penserra Capital Management LLC now owns 147,857 shares of the company's stock worth $1,190,000 after purchasing an additional 20,916 shares during the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.
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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