Intuitive Machines (NASDAQ:LUNR) Trading Up 15.7% – Here’s Why

by · The Cerbat Gem

Intuitive Machines, Inc. (NASDAQ:LUNR – Get Free Report) shares shot up 15.7% during mid-day trading on Wednesday . The company traded as high as $40.70 and last traded at $40.34. 29,619,030 shares were traded during mid-day trading, an increase of 121% from the average session volume of 13,390,905 shares. The stock had previously closed at $34.86.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LUNR shares. Zacks Research downgraded Intuitive Machines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $34.00 price target on shares of Intuitive Machines in a research report on Wednesday, May 20th. Roth Mkm lifted their price target on Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Stifel Nicolaus set a $32.00 price target on Intuitive Machines in a research report on Friday, May 15th. Finally, Wall Street Zen raised Intuitive Machines from a “strong sell” rating to a “sell” rating in a report on Sunday. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.50.

View Our Latest Analysis on Intuitive Machines

Intuitive Machines Stock Performance

The firm has a market capitalization of $8.75 billion, a P/E ratio of -45.84 and a beta of 1.47. The stock has a 50-day moving average of $25.82 and a 200 day moving average of $19.02.

Intuitive Machines (NASDAQ:LUNR – Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The company had revenue of $186.73 million during the quarter, compared to analyst estimates of $202.95 million. On average, equities analysts predict that Intuitive Machines, Inc. will post -0.44 EPS for the current year.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Price Crain II sold 150,000 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $17.55, for a total value of $2,632,500.00. Following the transaction, the senior vice president directly owned 359,726 shares in the company, valued at approximately $6,313,191.30. This trade represents a 29.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Peter Mcgrath sold 24,554 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total value of $579,719.94. Following the completion of the transaction, the chief financial officer owned 401,246 shares in the company, valued at $9,473,418.06. The trade was a 5.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,048,206 shares of company stock valued at $24,782,839 over the last 90 days. 54.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Intuitive Machines by 188.9% in the 1st quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock valued at $34,948,000 after buying an additional 1,231,188 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in Intuitive Machines in the 1st quarter valued at $59,000. Janus Henderson Group PLC boosted its position in Intuitive Machines by 38.9% in the 1st quarter. Janus Henderson Group PLC now owns 51,100 shares of the company’s stock valued at $947,000 after buying an additional 14,300 shares during the last quarter. California State Teachers Retirement System boosted its position in Intuitive Machines by 28.2% in the 1st quarter. California State Teachers Retirement System now owns 126,442 shares of the company’s stock valued at $2,347,000 after buying an additional 27,793 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Intuitive Machines by 2.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 53,679 shares of the company’s stock valued at $996,000 after buying an additional 1,235 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors.

About Intuitive Machines

(Get Free Report)

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.

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