Intuitive Machines (NASDAQ:LUNR) Hits New 12-Month High – Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $14.93 and last traded at $14.74, with a volume of 10095097 shares changing hands. The stock had previously closed at $13.99.

Wall Street Analyst Weigh In

A number of brokerages have commented on LUNR. Benchmark lifted their target price 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. Canaccord Genuity Group raised their target price on Intuitive Machines from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Friday, November 15th. Cantor Fitzgerald upped their price target on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. B. Riley boosted 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 reaffirmed a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $13.10.

Intuitive Machines Trading Up 8.0 %

The company has a fifty day moving average of $8.76 and a 200-day moving average of $5.98. The stock has a market cap of $2.12 billion, a PE ratio of -5.14 and a beta of 0.35.

Insiders Place Their Bets

In related news, CEO Stephen J. Altemus sold 138,568 shares of Intuitive Machines stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $11.10, for a total value of $1,538,104.80. Following the completion of the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at approximately $10,111,200.90. This trade represents a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 570,705 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $6.08, for a total value of $3,469,886.40. Following the transaction, the director now directly owns 3,551,606 shares of the company’s stock, valued at $21,593,764.48. The trade was a 13.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,763,571 shares of company stock worth $38,671,383 over the last three months. Company insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wedbush Securities Inc. acquired a new stake in Intuitive Machines in the second quarter valued at approximately $35,000. Sender Co & Partners Inc. purchased a new stake in shares of Intuitive Machines in the 2nd quarter valued at approximately $56,000. Waldron Private Wealth LLC acquired a new stake in shares of Intuitive Machines in the 3rd quarter valued at $83,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Intuitive Machines during the 3rd quarter worth $85,000. Finally, SG Americas Securities LLC acquired a new position in shares of Intuitive Machines during the third quarter worth $93,000. 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.