Intuitive Machines (NASDAQ:LUNR) Stock Price Up 8.7% – Time to Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares rose 8.7% on Friday . The company traded as high as $24.95 and last traded at $24.09. Approximately 14,602,102 shares were traded during mid-day trading, a decline of 3% from the average daily volume of 14,997,783 shares. The stock had previously closed at $22.17.

Analysts Set New Price Targets

LUNR has been the topic of a number of analyst reports. Benchmark lifted their price objective on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Cantor Fitzgerald lifted 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. Finally, Canaccord Genuity Group lifted their price objective on Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Intuitive Machines presently has an average rating of “Buy” and a consensus target price of $15.80.

Intuitive Machines Trading Up 6.5 %

The company has a 50 day moving average price of $15.98 and a 200 day moving average price of $9.60. The firm has a market cap of $3.31 billion, a PE ratio of -8.10 and a beta of 0.90.

Insider Transactions at Intuitive Machines

In related news, CEO Stephen J. Altemus sold 61,432 shares of the company’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 value of $675,752.00. Following the sale, the chief executive officer now owns 910,919 shares of the company’s stock, valued at approximately $10,020,109. This represents a 6.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 74,248 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $8.03, for a total value of $596,211.44. Following the completion of the sale, the director now directly owns 3,494,768 shares in the company, valued at approximately $28,062,987.04. The trade was a 2.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,609,820 shares of company stock valued at $21,709,343 in the last quarter. 73.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Sender Co & Partners Inc. purchased a new position in shares of Intuitive Machines during the 2nd quarter worth $56,000. Waldron Private Wealth LLC purchased a new position in shares of Intuitive Machines during the 3rd quarter worth $83,000. The Manufacturers Life Insurance Company purchased a new position in shares of Intuitive Machines during the 3rd quarter worth $85,000. SG Americas Securities LLC purchased a new position in shares of Intuitive Machines during the 3rd quarter worth $93,000. Finally, Creative Planning purchased a new position in shares of Intuitive Machines during the 3rd quarter worth $105,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

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.