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

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price gapped up before the market opened 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.

A number of other equities research analysts also recently issued reports on the stock. Canaccord Genuity Group reduced their price target on shares of Intuitive Machines from $18.50 to $15.50 and set a “buy” rating for the company in a research report on Friday, November 7th. Bank of America boosted their target price on Intuitive Machines from $8.50 to $9.50 and gave the stock an “underperform” rating in a research report on Wednesday, November 19th. Roth Capital reissued a “buy” rating on shares of Intuitive Machines in a report on Tuesday, November 4th. Zacks Research raised Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.91.

Insider Transactions at Intuitive Machines

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

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. boosted its stake in Intuitive Machines by 27.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 140,208 shares of the company’s stock valued at $1,045,000 after acquiring an additional 30,447 shares during the period. Swiss National Bank bought a new stake in shares of Intuitive Machines in the 1st quarter worth approximately $1,203,000. ARK Investment Management LLC lifted its holdings in shares of Intuitive Machines by 56.1% in the 2nd quarter. ARK Investment Management LLC now owns 1,158,775 shares of the company’s stock worth $12,596,000 after purchasing an additional 416,337 shares during the last quarter. Jump Financial LLC acquired a new position in Intuitive Machines during the 1st quarter valued at approximately $1,900,000. Finally, Ensign Peak Advisors Inc bought a new position in Intuitive Machines during the 2nd quarter worth $373,000. 72.21% of the stock is owned by institutional investors and hedge funds.

Intuitive Machines Stock Performance

The stock has a market capitalization of $2.69 billion, a P/E ratio of -6.05 and a beta of 1.44. The stock has a 50 day moving average of $10.86 and a 200 day moving average of $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.