Intuitive Machines (NASDAQ:LUNR) Shares Gap Up – Should You Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $18.51, but opened at $19.54. Intuitive Machines shares last traded at $20.22, with a volume of 4,977,096 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently commented on LUNR. Canaccord Genuity Group increased their price objective on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Benchmark upped their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Cantor Fitzgerald raised 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. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Intuitive Machines presently has a consensus rating of “Buy” and a consensus target price of $15.80.

Intuitive Machines Stock Performance

The stock’s fifty day simple moving average is $15.74 and its two-hundred day simple moving average is $9.51. The stock has a market capitalization of $3.15 billion, a P/E ratio of -7.64 and a beta of 0.90.

Insider Transactions at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 400,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total value of $4,840,000.00. Following the sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at approximately $4,390,001. This represents a 52.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 177,734 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $7.93, for a total transaction of $1,409,430.62. Following the sale, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $27,713,510.24. This trade represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,609,820 shares of company stock worth $21,709,343. Company insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

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

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.