Intuitive Machines (NASDAQ:LUNR) Sees Large Volume Increase – Should You Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares saw unusually-strong trading volume on Wednesday . Approximately 5,073,422 shares changed hands during mid-day trading, a decline of 41% from the previous session’s volume of 8,668,641 shares.The stock last traded at $7.17 and had previously closed at $7.39.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. Roth Mkm reissued a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. B. Riley boosted their price objective on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Intuitive Machines in a research report on Monday, September 30th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Intuitive Machines has a consensus rating of “Buy” and a consensus price target of $10.60.

Intuitive Machines Stock Down 4.9 %

The business’s 50 day simple moving average is $5.65 and its 200 day simple moving average is $5.11. The stock has a market cap of $876.16 million, a price-to-earnings ratio of 17.34 and a beta of 0.34.

Intuitive Machines (NASDAQ:LUNR) last released its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.09. The firm had revenue of $41.41 million during the quarter, compared to the consensus estimate of $43.00 million. Equities research analysts forecast that Intuitive Machines, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 143,989 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $4.04, for a total value of $581,715.56. Following the completion of the sale, the senior vice president now owns 362,810 shares in the company, valued at $1,465,752.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Intuitive Machines news, SVP Timothy Price Crain II sold 143,989 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $4.04, for a total transaction of $581,715.56. Following the sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at $1,465,752.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven Vontur sold 10,274 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $5.58, for a total transaction of $57,328.92. Following the sale, the chief financial officer now directly owns 117,500 shares in the company, valued at approximately $655,650. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,991,744 shares of company stock worth $28,226,603. Company insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings 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 during the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Intuitive Machines in the second quarter worth about $536,000. Bank of New York Mellon Corp purchased a new stake in shares of Intuitive Machines in the second quarter worth about $272,000. Sanders Morris Harris LLC lifted its holdings in shares of Intuitive Machines by 264.9% in the second quarter. Sanders Morris Harris LLC now owns 69,700 shares of the company’s stock worth $230,000 after buying an additional 50,600 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Intuitive Machines in the second quarter worth about $164,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

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.