Intuitive Machines (NASDAQ:LUNR) Trading Up 3.3% - What's Next?

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares rose 3.3% on Friday . The company traded as high as $8.19 and last traded at $8.18. Approximately 3,165,535 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 8,744,353 shares. The stock had previously closed at $7.92.

Analysts Set New Price Targets

Several research firms have recently issued reports on LUNR. Benchmark reaffirmed a "buy" rating and set a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday, September 18th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $10.00 price objective on shares of Intuitive Machines in a research report on Monday, September 30th. B. Riley raised their target price on Intuitive Machines from $8.00 to $12.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Finally, Roth Mkm reaffirmed a "buy" rating and issued a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $10.60.

Intuitive Machines Stock Performance

The stock has a market capitalization of $995.81 million, a price-to-earnings ratio of 19.49 and a beta of 0.34. The business has a 50-day moving average of $6.76 and a 200-day moving average of $5.29.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.09. The business had revenue of $41.41 million for the quarter, compared to analysts' expectations of $43.00 million. On average, research analysts predict that Intuitive Machines, Inc. will post 0.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Stephen J. Altemus sold 440,288 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $6.03, for a total transaction of $2,654,936.64. Following the transaction, the chief executive officer now owns 910,919 shares of the company's stock, valued at $5,492,841.57. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Timothy Price Crain II sold 74,423 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $3.93, for a total value of $292,482.39. Following the completion of the sale, the senior vice president now directly owns 362,810 shares of the company's stock, valued at $1,425,843.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen J. Altemus sold 440,288 shares of the company's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $6.03, for a total value of $2,654,936.64. Following the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at $5,492,841.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,111,589 shares of company stock valued at $30,409,186. Insiders own 73.68% of the company's stock.

Hedge Funds Weigh In On Intuitive Machines

A number of large investors have recently made changes to their positions in LUNR. Vanguard Group Inc. grew its position in Intuitive Machines by 250.0% during the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company's stock worth $3,758,000 after buying an additional 429,531 shares during the period. Squarepoint Ops LLC acquired a new position in Intuitive Machines during the second quarter worth $536,000. Bank of New York Mellon Corp acquired a new position in Intuitive Machines during the second quarter worth $272,000. Sanders Morris Harris LLC grew its holdings in Intuitive Machines by 264.9% in the second quarter. Sanders Morris Harris LLC now owns 69,700 shares of the company's stock valued at $230,000 after purchasing an additional 50,600 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in Intuitive Machines in the second quarter valued at $164,000. Hedge funds and other institutional investors own 72.21% of the company's stock.

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.