Intuitive Machines (NASDAQ:LUNR) Trading 6.7% Higher After Insider Buying Activity

Intuitive Machines, Inc. (NASDAQ:LUNR) shot up 6.7% during mid-day trading on Friday after an insider bought additional shares in the company. The stock traded as high as $9.34 and last traded at $9.2420. 3,697,384 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 9,559,667 shares. The stock had previously closed at $8.66.

Specifically, Director Michael Blitzer bought 100,000 shares of the company’s stock in a transaction on Thursday, November 13th. The stock was bought at an average cost of $8.83 per share, with a total value of $883,000.00. Following the completion of the purchase, the director owned 1,931,248 shares in the company, valued at approximately $17,052,919.84. The trade was a 5.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael Blitzer bought 141,080 shares of Intuitive Machines stock in a transaction dated Wednesday, November 12th. The shares were bought at an average price of $9.27 per share, for a total transaction of $1,307,811.60. Following the completion of the transaction, the director directly owned 1,831,248 shares of the company’s stock, valued at $16,975,668.96. This represents a 8.35% increase in their position. The SEC filing for this purchase provides additional information.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Stifel Nicolaus initiated coverage on shares of Intuitive Machines in a research report on Monday, November 3rd. They issued a “buy” rating and a $18.00 price objective for the company. Craig Hallum initiated coverage on Intuitive Machines in a research report on Tuesday, July 22nd. They issued a “buy” rating and a $17.00 price objective on the stock. Deutsche Bank Aktiengesellschaft set a $18.00 target price on Intuitive Machines and gave the stock a “buy” rating in a research report on Friday, October 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $16.00 price target on shares of Intuitive Machines in a research note on Monday. Finally, Bank of America lowered their price objective on Intuitive Machines from $10.50 to $8.50 and set an “underperform” rating for the company in a research report on Monday, August 25th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.40.

Intuitive Machines Stock Up 10.0%

The business has a fifty day moving average of $10.78 and a 200 day moving average of $10.62. The firm has a market cap of $1.70 billion, a P/E ratio of -2.94 and a beta of 1.42.

Institutional Trading of Intuitive Machines

A number of institutional investors and hedge funds have recently modified their holdings of LUNR. Tealwood Asset Management Inc. grew its holdings in Intuitive Machines by 4.4% during the third quarter. Tealwood Asset Management Inc. now owns 21,250 shares of the company’s stock valued at $224,000 after purchasing an additional 900 shares during the period. Philadelphia Trust Co. grew its holdings in shares of Intuitive Machines by 10.0% in the 1st quarter. Philadelphia Trust Co. now owns 11,000 shares of the company’s stock valued at $82,000 after buying an additional 1,000 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Intuitive Machines by 35.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company’s stock valued at $47,000 after buying an additional 1,127 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of Intuitive Machines by 12.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,478 shares of the company’s stock valued at $147,000 after buying an additional 1,499 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in Intuitive Machines by 180.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company’s stock worth $30,000 after buying an additional 1,800 shares during the period. 72.21% of the stock is owned by institutional investors.

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.