Intuitive Machines (NASDAQ:LUNR) Stock Price Up 5.5% – Here’s Why

by · The Cerbat Gem

Intuitive Machines, Inc. (NASDAQ:LUNR – Get Free Report)’s stock price traded up 5.5% on Wednesday . The stock traded as high as $7.82 and last traded at $7.88. 1,873,533 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 14,683,484 shares. The stock had previously closed at $7.47.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LUNR. Benchmark reaffirmed a “buy” rating and set a $16.00 price target on shares of Intuitive Machines in a research report on Tuesday, March 25th. Cantor Fitzgerald reduced their price target on Intuitive Machines from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, March 25th. Canaccord Genuity Group lowered their price target on Intuitive Machines from $22.00 to $21.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. B. Riley reaffirmed a “buy” rating on shares of Intuitive Machines in a research report on Tuesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Intuitive Machines in a report on Tuesday, February 25th. They set a “hold” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Read Our Latest Stock Report on Intuitive Machines

Intuitive Machines Stock Performance

The stock has a market cap of $1.06 billion, a P/E ratio of -2.56 and a beta of 1.33. The stock’s fifty day simple moving average is $14.17 and its 200-day simple moving average is $12.97.

Intuitive Machines (NASDAQ:LUNR – Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.12. The firm had revenue of $54.66 million for the quarter, compared to analyst estimates of $72.58 million. As a group, equities research analysts forecast that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Steven Vontur sold 4,528 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total value of $88,748.80. Following the completion of the transaction, the insider now directly owns 104,272 shares in the company, valued at approximately $2,043,731.20. This represents a 4.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 73.68% of the stock is owned by corporate insiders.

Institutional Trading of Intuitive Machines

Several institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its holdings in Intuitive Machines by 44.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock worth $836,000 after purchasing an additional 32,015 shares during the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Intuitive Machines in the third quarter valued at approximately $85,000. MetLife Investment Management LLC purchased a new position in shares of Intuitive Machines during the third quarter valued at approximately $138,000. Stifel Financial Corp bought a new stake in Intuitive Machines during the third quarter worth $525,000. Finally, State Street Corp raised its position in Intuitive Machines by 1.3% in the 3rd quarter. State Street Corp now owns 576,051 shares of the company’s stock valued at $4,637,000 after buying an additional 7,538 shares during the last quarter. Institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

(Get Free Report)

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.

Featured Stories