Intuitive Machines (NASDAQ:LUNR) Trading 12.1% Higher – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) rose 12.1% during trading on Thursday . The company traded as high as $9.28 and last traded at $9.26. Approximately 12,439,301 shares traded hands during mid-day trading, an increase of 42% from the average daily volume of 8,785,103 shares. The stock had previously closed at $8.26.

Wall Street Analyst Weigh In

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

Intuitive Machines Stock Up 2.2 %

The company’s fifty day moving average is $7.42 and its two-hundred day moving average is $5.51.

Intuitive Machines (NASDAQ:LUNR) last released 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 company had revenue of $41.41 million for the quarter, compared to analyst estimates of $43.00 million. Equities analysts forecast that Intuitive Machines, Inc. will post 0.47 EPS for the current year.

Insider Transactions at Intuitive Machines

In related news, SVP Timothy Price Crain II sold 125,577 shares of Intuitive Machines stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $4.02, for a total value of $504,819.54. Following the transaction, the senior vice president now directly owns 362,810 shares in the company, valued at $1,458,496.20. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Intuitive Machines news, CFO Steven Vontur sold 10,274 shares of the business’s stock in a transaction on 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Timothy Price Crain II sold 125,577 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $4.02, for a total transaction of $504,819.54. Following the sale, the senior vice president now owns 362,810 shares in the company, valued at $1,458,496.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,289,148 shares of company stock worth $32,122,346. Insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently made changes to their positions in LUNR. Wedbush Securities Inc. purchased a new stake in shares of Intuitive Machines in the 2nd quarter worth about $35,000. Sender Co & Partners Inc. purchased a new position in Intuitive Machines in the 2nd quarter valued at about $56,000. Baltimore Washington Financial Advisors Inc. purchased a new position in Intuitive Machines in the 1st quarter valued at about $67,000. Waldron Private Wealth LLC purchased a new position in Intuitive Machines in the 3rd quarter valued at about $83,000. Finally, SG Americas Securities LLC purchased a new position in Intuitive Machines in the 3rd quarter valued at about $93,000. 72.21% of the stock is currently 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.