Intuitive Machines (NASDAQ:LUNR) Trading 9% Higher – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR) shares shot up 9% during trading on Friday . The company traded as high as $21.07 and last traded at $21.06. 3,162,540 shares were traded during mid-day trading, a decline of 78% from the average session volume of 14,603,064 shares. The stock had previously closed at $19.32.

Wall Street Analyst Weigh In

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

Intuitive Machines Stock Performance

The company has a fifty day simple moving average of $13.04 and a two-hundred day simple moving average of $8.05. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of -7.45 and a beta of 0.93.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Price Crain II sold 400,000 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total value of $4,840,000.00. Following the sale, the senior vice president now owns 362,810 shares of the company’s stock, valued at approximately $4,390,001. This trade represents a 52.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.35, for a total value of $6,935,804.55. Following the transaction, the director now directly owns 3,494,768 shares of the company’s stock, valued at $64,128,992.80. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,080,704 shares of company stock valued at $25,411,498 over the last quarter. 73.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. FORA Capital LLC acquired a new stake in shares of Intuitive Machines in the 3rd quarter valued at approximately $458,000. Geode Capital Management LLC boosted its position in Intuitive Machines by 31.2% in the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after buying an additional 222,136 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Intuitive Machines during the second quarter worth $536,000. Stifel Financial Corp bought a new position in shares of Intuitive Machines in the 3rd quarter valued at $525,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Intuitive Machines by 44.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock valued at $836,000 after acquiring an additional 32,015 shares during the last quarter. 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.