Intuitive Machines (NASDAQ:LUNR) Trading Up 8.2% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price was up 8.2% during mid-day trading on Friday . The company traded as high as $24.07 and last traded at $23.7820. Approximately 4,440,335 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 12,319,367 shares. The stock had previously closed at $21.97.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LUNR shares. Roth Mkm restated a “buy” rating on shares of Intuitive Machines in a research note on Wednesday, February 25th. Cantor Fitzgerald upped their target price on shares of Intuitive Machines from $16.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. Stifel Nicolaus upped their target price on shares of Intuitive Machines from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, March 23rd. B. Riley Financial restated a “buy” rating on shares of Intuitive Machines in a research note on Tuesday, February 17th. Finally, Canaccord Genuity Group upped their target price on shares of Intuitive Machines from $22.50 to $24.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $19.94.

Intuitive Machines Stock Up 7.3%

The stock has a market cap of $5.11 billion, a price-to-earnings ratio of -31.85 and a beta of 1.31. The firm’s 50 day moving average is $18.62 and its two-hundred day moving average is $15.24.

Intuitive Machines (NASDAQ:LUNR) last posted its earnings results on Thursday, March 19th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The firm had revenue of $44.79 million during the quarter, compared to the consensus estimate of $53.37 million. On average, analysts anticipate that Intuitive Machines, Inc. will post 0.73 EPS for the current fiscal year.

Insider Activity at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 170,185 shares of the stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $20.06, for a total value of $3,413,911.10. Following the completion of the transaction, the senior vice president directly owned 298,435 shares in the company, valued at $5,986,606.10. This trade represents a 36.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kamal Seyed Ghaffarian sold 283,818 shares of the stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $18.78, for a total transaction of $5,330,102.04. Following the completion of the transaction, the director owned 3,494,768 shares of the company’s stock, valued at $65,631,743.04. This trade represents a 7.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,397,311 shares of company stock valued at $27,242,918. Insiders own 39.75% of the company’s stock.

Institutional Trading of Intuitive Machines

A number of large investors have recently added to or reduced their stakes in LUNR. Trustees of the University of Pennsylvania bought a new stake in Intuitive Machines during the fourth quarter worth approximately $52,689,000. First Trust Advisors LP boosted its holdings in Intuitive Machines by 3,582.9% during the third quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock worth $25,809,000 after buying an additional 2,386,688 shares in the last quarter. Jump Financial LLC boosted its holdings in Intuitive Machines by 5,262.9% during the third quarter. Jump Financial LLC now owns 1,339,872 shares of the company’s stock worth $14,095,000 after buying an additional 1,314,888 shares in the last quarter. Marshall Wace LLP boosted its holdings in Intuitive Machines by 523.7% during the fourth quarter. Marshall Wace LLP now owns 1,260,459 shares of the company’s stock worth $20,457,000 after buying an additional 1,058,376 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in Intuitive Machines by 56.1% during the third quarter. Voya Investment Management LLC now owns 2,656,684 shares of the company’s stock worth $27,948,000 after buying an additional 954,778 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors.

About Intuitive Machines

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.