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

Intuitive Machines, Inc. (NASDAQ:LUNR) gapped up prior to trading on Friday after KeyCorp upgraded the stock to a strong-buy rating. The stock had previously closed at $10.85, but opened at $11.84. Intuitive Machines shares last traded at $13.52, with a volume of 6,776,343 shares trading hands.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft set a $18.00 target price on Intuitive Machines and gave the company a “buy” rating in a research note on Friday, October 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Intuitive Machines in a research report on Wednesday, December 3rd. Bank of America boosted their target price on shares of Intuitive Machines from $8.50 to $9.50 and gave the company an “underperform” rating in a research note on Wednesday, November 19th. Roth Capital restated a “buy” rating on shares of Intuitive Machines in a research note on Tuesday, November 4th. Finally, Canaccord Genuity Group cut their price target on Intuitive Machines from $18.50 to $15.50 and set a “buy” rating on the stock in a report on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.91.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, Director Michael Blitzer acquired 141,080 shares of Intuitive Machines stock in a transaction dated Wednesday, November 12th. The stock was bought at an average price of $9.27 per share, for a total transaction of $1,307,811.60. Following the transaction, the director owned 1,831,248 shares in the company, valued at approximately $16,975,668.96. This trade represents a 8.35% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 39.75% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. purchased a new stake in shares of Intuitive Machines during the third quarter worth $123,000. PharVision Advisers LLC acquired a new stake in Intuitive Machines in the 3rd quarter valued at approximately $405,000. XTX Topco Ltd grew its position in Intuitive Machines by 950.7% in the 3rd quarter. XTX Topco Ltd now owns 193,544 shares of the company’s stock worth $2,036,000 after purchasing an additional 175,124 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in Intuitive Machines by 177.0% during the third quarter. Alyeska Investment Group L.P. now owns 1,429,791 shares of the company’s stock valued at $15,041,000 after acquiring an additional 913,650 shares during the period. Finally, Voleon Capital Management LP acquired a new stake in shares of Intuitive Machines during the 3rd quarter worth approximately $480,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Intuitive Machines Price Performance

The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -6.05 and a beta of 1.44. The stock’s 50 day simple moving average is $10.86 and its two-hundred day simple moving average is $10.56.

Intuitive Machines Company Profile

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.