Intuitive Machines (NASDAQ:LUNR) Sees Strong Trading Volume – Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) saw an uptick in trading volume on Monday . 4,238,200 shares were traded during trading, a decline of 57% from the previous session’s volume of 9,827,564 shares.The stock last traded at $14.98 and had previously closed at $15.12.

Analyst Ratings Changes

LUNR has been the subject of a number of recent analyst reports. Cantor Fitzgerald boosted 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. Roth Mkm restated a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, September 18th. Canaccord Genuity Group increased their price objective on Intuitive Machines from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Friday, November 15th. B. Riley boosted their target price on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Benchmark upped their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to MarketBeat, Intuitive Machines presently has a consensus rating of “Buy” and an average price target of $13.10.

Intuitive Machines Stock Performance

The stock has a 50 day simple moving average of $8.76 and a 200-day simple moving average of $5.98.

Insiders Place Their Bets

In other news, CFO Steven Vontur sold 10,274 shares of Intuitive Machines stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $5.58, for a total transaction of $57,328.92. Following the transaction, the chief financial officer now directly owns 117,500 shares of the company’s stock, valued at $655,650. The trade was a 8.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen J. Altemus sold 138,568 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $11.10, for a total value of $1,538,104.80. Following the transaction, the chief executive officer now owns 910,919 shares of the company’s stock, valued at approximately $10,111,200.90. This trade represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,763,571 shares of company stock worth $38,671,383. Company insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Intuitive Machines by 250.0% during the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock valued at $3,758,000 after buying an additional 429,531 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Intuitive Machines by 31.2% in the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after purchasing an additional 222,136 shares in the last quarter. Squarepoint Ops LLC bought a new position in Intuitive Machines in the 2nd quarter worth approximately $536,000. Bank of New York Mellon Corp purchased a new stake in Intuitive Machines during the 2nd quarter valued at approximately $272,000. Finally, Stifel Financial Corp bought a new stake in shares of Intuitive Machines during the third quarter valued at approximately $525,000. 72.21% of the stock is currently owned by institutional investors.

Intuitive Machines Company Profile

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.