Intuitive Machines (NASDAQ:LUNR) Sees Strong Trading Volume

Intuitive Machines, Inc. (NASDAQ:LUNR) shares saw strong trading volume on Thursday . 9,299,727 shares traded hands during trading, an increase of 23% from the previous session’s volume of 7,570,203 shares.The stock last traded at $7.58 and had previously closed at $7.47.

Wall Street Analyst Weigh In

LUNR has been the topic of several analyst reports. B. Riley began coverage on Intuitive Machines in a research report on Friday, June 28th. They set a “buy” rating and a $8.00 target price on the stock. Roth Mkm restated a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday. Benchmark reissued a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Intuitive Machines has an average rating of “Buy” and an average price target of $9.80.

Intuitive Machines Stock Performance

The stock has a 50-day moving average price of $4.61 and a 200-day moving average price of $4.88. The stock has a market cap of $1.03 billion, a P/E ratio of 19.73 and a beta of 0.26.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $41.41 million during the quarter, compared to the consensus estimate of $43.00 million. Sell-side analysts forecast that Intuitive Machines, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Activity at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 50,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $3.36, for a total transaction of $168,000.00. Following the sale, the senior vice president now owns 362,810 shares in the company, valued at approximately $1,219,041.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Intuitive Machines news, SVP Timothy Price Crain II sold 50,000 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $3.36, for a total value of $168,000.00. Following the sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at $1,219,041.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven Vontur sold 10,274 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $5.58, for a total transaction of $57,328.92. Following the completion of the transaction, the chief financial officer now owns 117,500 shares in the company, valued at approximately $655,650. The disclosure for this sale can be found here. Insiders have sold 1,827,154 shares of company stock worth $9,893,973 over the last ninety days. 73.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Intuitive Machines by 250.0% during the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock valued at $3,758,000 after purchasing an additional 429,531 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Intuitive Machines during the second quarter valued at approximately $536,000. Bank of New York Mellon Corp bought a new position in shares of Intuitive Machines during the second quarter worth $272,000. Sanders Morris Harris LLC grew its stake in Intuitive Machines by 264.9% during the second quarter. Sanders Morris Harris LLC now owns 69,700 shares of the company’s stock valued at $230,000 after acquiring an additional 50,600 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Intuitive Machines in the 2nd quarter worth $164,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

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.