Intuitive Machines (NASDAQ:LUNR) Shares Gap Up Following Analyst Upgrade

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price gapped up prior to trading on Friday after Roth Mkm raised their price target on the stock from $7.00 to $10.00. The stock had previously closed at $4.82, but opened at $5.95. Roth Mkm currently has a buy rating on the stock. Intuitive Machines shares last traded at $5.58, with a volume of 17,126,223 shares.

A number of other equities research analysts have also weighed in on LUNR. B. Riley started coverage on Intuitive Machines in a research note on Friday, June 28th. They set a “buy” rating and a $8.00 price target on the stock. Benchmark restated a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, August 14th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, August 14th. Finally, Canaccord Genuity Group dropped their price target on Intuitive Machines from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $9.80.

Insider Activity at Intuitive Machines

In related news, SVP Timothy Price Crain II sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $3.36, for a total value of $168,000.00. Following the sale, the senior vice president now owns 362,810 shares in the company, valued at $1,219,041.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Timothy Price Crain II sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $3.36, for a total value of $168,000.00. Following the sale, the senior vice president now owns 362,810 shares in the company, valued at $1,219,041.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stephen J. Altemus sold 203,018 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $4.53, for a total value of $919,671.54. Following the completion of the sale, the chief executive officer now owns 910,919 shares in the company, valued at approximately $4,126,463.07. The disclosure for this sale can be found here. Insiders have sold a total of 607,050 shares of company stock worth $2,508,917 over the last quarter. Insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds have recently bought and sold shares of the stock. Solstein Capital LLC purchased a new stake in Intuitive Machines in the 1st quarter worth approximately $44,000. Wedbush Securities Inc. purchased a new stake in Intuitive Machines in the 2nd quarter worth approximately $35,000. Baltimore Washington Financial Advisors Inc. purchased a new stake in Intuitive Machines in the 1st quarter worth approximately $67,000. Sender Co & Partners Inc. purchased a new stake in Intuitive Machines in the 2nd quarter worth approximately $56,000. Finally, Sanders Morris Harris LLC acquired a new position in shares of Intuitive Machines during the 1st quarter worth approximately $119,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Intuitive Machines Stock Performance

The firm has a market capitalization of $619.42 million, a price-to-earnings ratio of 12.12 and a beta of 0.21. The company has a 50 day moving average price of $4.09 and a two-hundred day moving average price of $5.03.

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.