Intuitive Machines (NASDAQ:LUNR) Trading 9% Higher – What’s Next?

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

Analysts Set New Price Targets

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

Intuitive Machines Stock Up 12.2 %

The company’s 50 day moving average price is $12.76 and its two-hundred day moving average price is $7.92. The stock has a market cap of $3.04 billion, a P/E ratio of -7.37 and a beta of 0.93.

Insider Activity at Intuitive Machines

In related news, CEO Stephen J. Altemus sold 61,432 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $11.00, for a total transaction of $675,752.00. Following the completion of the transaction, the chief executive officer now owns 910,919 shares in the company, valued at $10,020,109. This represents a 6.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy Price Crain II sold 400,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the completion of the transaction, the senior vice president now directly owns 362,810 shares in the company, valued at $4,390,001. This trade represents a 52.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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

Large investors have recently added to or reduced their stakes in the company. Waldron Private Wealth LLC acquired a new position in Intuitive Machines in the third quarter valued at $83,000. Wedbush Securities Inc. purchased a new stake in Intuitive Machines in the 2nd quarter valued at approximately $35,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Intuitive Machines during the third quarter valued at $85,000. SG Americas Securities LLC purchased a new position in shares of Intuitive Machines during the third quarter valued at approximately $93,000. Finally, Creative Planning purchased a new stake in Intuitive Machines in the 3rd quarter valued at about $105,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.