Intuitive Machines (NASDAQ:LUNR) Shares Up 2.6%

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price shot up 2.6% during mid-day trading on Friday . The stock traded as high as $5.50 and last traded at $5.45. 711,287 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 8,664,545 shares. The stock had previously closed at $5.31.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on LUNR. Cantor Fitzgerald dropped their price objective on shares of Intuitive Machines from $13.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Benchmark reissued a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Thursday, April 4th. Finally, Roth Mkm reissued a “buy” rating and issued a $15.00 price objective on shares of Intuitive Machines in a research report on Thursday, April 4th.

Intuitive Machines Stock Down 1.3 %

The firm has a market capitalization of $639.23 million, a PE ratio of 2.19 and a beta of 0.23. The firm’s 50 day moving average price is $6.04 and its two-hundred day moving average price is $4.06.

Intuitive Machines (NASDAQ:LUNR) last announced its earnings results on Monday, March 25th. The company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.01. The business had revenue of $30.56 million during the quarter, compared to the consensus estimate of $17.70 million. Intuitive Machines had a net margin of 78.98% and a negative return on equity of 2.04%. On average, sell-side analysts anticipate that Intuitive Machines, Inc. will post -0.48 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder Guy Shanon sold 123,717 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $8.99, for a total value of $1,112,215.83. Following the completion of the transaction, the insider now directly owns 1,302,673 shares in the company, valued at $11,711,030.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 78.93% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Hemington Wealth Management acquired a new stake in shares of Intuitive Machines during the fourth quarter worth $26,000. Virtu Financial LLC acquired a new stake in shares of Intuitive Machines during the fourth quarter worth $81,000. State Street Corp acquired a new stake in shares of Intuitive Machines during the second quarter worth $111,000. Sanders Morris Harris LLC acquired a new stake in shares of Intuitive Machines during the first quarter worth $119,000. Finally, Northern Trust Corp raised its holdings in shares of Intuitive Machines by 179.1% during the fourth quarter. Northern Trust Corp now owns 47,765 shares of the company’s stock worth $122,000 after purchasing an additional 30,649 shares during the period. 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.