Traders Purchase Large Volume of Intuitive Machines Call Options (NASDAQ:LUNR)

Intuitive Machines, Inc. (NASDAQ:LUNR) was the target of unusually large options trading activity on Thursday. Traders bought 79,143 call options on the stock. This represents an increase of approximately 38% compared to the typical volume of 57,328 call options.

Insiders Place Their Bets

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $15.04, for a total value of $5,684,713.92. Following the completion of the transaction, the director now owns 3,494,768 shares in the company, valued at $52,561,310.72. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Stephen J. Altemus sold 61,432 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $11.00, for a total transaction of $675,752.00. Following the transaction, the chief executive officer now owns 910,919 shares of the company’s stock, valued at $10,020,109. This trade represents a 6.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,702,731 shares of company stock worth $18,475,694 over the last 90 days. Corporate insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds have recently made changes to their positions in the business. State Street Corp lifted its position in Intuitive Machines by 1.3% during the 3rd quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after acquiring an additional 7,538 shares during the period. Waldron Private Wealth LLC acquired a new stake in shares of Intuitive Machines during the third quarter worth $83,000. Wedbush Securities Inc. purchased a new position in Intuitive Machines in the 2nd quarter valued at $35,000. The Manufacturers Life Insurance Company purchased a new position in Intuitive Machines in the 3rd quarter valued at $85,000. Finally, SG Americas Securities LLC acquired a new position in Intuitive Machines in the 3rd quarter valued at $93,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Intuitive Machines Price Performance

Shares of NASDAQ:LUNR opened at $18.39 on Friday. Intuitive Machines has a 1-year low of $2.09 and a 1-year high of $19.62. The stock has a market cap of $2.58 billion, a P/E ratio of -6.26 and a beta of 0.91. The firm has a fifty day moving average price of $11.92 and a 200 day moving average price of $7.52.

Wall Street Analyst Weigh In

LUNR has been the topic of a number of recent analyst reports. B. Riley increased their price objective on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Cantor Fitzgerald raised their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Canaccord Genuity Group reduced their price objective on shares of Intuitive Machines from $19.00 to $17.50 and set a “buy” rating for the company in a research report on Friday, December 6th. Benchmark lifted their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Roth Mkm restated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday, September 18th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Intuitive Machines presently has a consensus rating of “Buy” and a consensus target price of $14.10.

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.