Intuitive Machines (NASDAQ:LUNR) Trading Up 7% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR) shares shot up 7% during trading on Wednesday . The company traded as high as $7.07 and last traded at $6.93. 7,247,728 shares traded hands during trading, a decline of 53% from the average session volume of 15,519,895 shares. The stock had previously closed at $6.48.

Analyst Ratings Changes

LUNR has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intuitive Machines in a research note on Tuesday, February 25th. They set a “hold” rating and a $18.00 price target on the stock. Canaccord Genuity Group decreased their price target on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Roth Capital set a $20.00 target price on Intuitive Machines in a report on Friday, March 7th. Benchmark upped their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Bank of America assumed coverage on shares of Intuitive Machines in a research note on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Intuitive Machines has an average rating of “Moderate Buy” and an average target price of $16.38.

Intuitive Machines Trading Up 14.9 %

The company’s fifty day simple moving average is $18.19 and its 200-day simple moving average is $12.78. The stock has a market cap of $1.04 billion, a P/E ratio of -2.53 and a beta of 1.01.

Insider Transactions at Intuitive Machines

In related news, insider Steven Vontur sold 4,528 shares of Intuitive Machines stock in a transaction dated 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 sale, the insider now directly owns 104,272 shares in the company, valued at $2,043,731.20. This trade represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the completion of the transaction, the director now directly owns 3,494,768 shares in the company, valued at $64,128,992.80. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 393,659 shares of company stock valued at $7,262,364. 73.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Intuitive Machines by 33.6% in the 4th quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company’s stock valued at $73,503,000 after acquiring an additional 1,017,706 shares during the last quarter. Two Sigma Investments LP acquired a new stake in Intuitive Machines in the fourth quarter worth $33,255,000. Renaissance Technologies LLC boosted its position in shares of Intuitive Machines by 99.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company’s stock worth $22,170,000 after purchasing an additional 609,118 shares in the last quarter. D. E. Shaw & Co. Inc. grew its holdings in shares of Intuitive Machines by 3,991.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company’s stock valued at $21,102,000 after buying an additional 1,133,581 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Intuitive Machines by 20.5% in the 4th quarter. Geode Capital Management LLC now owns 1,125,005 shares of the company’s stock valued at $20,437,000 after buying an additional 191,733 shares in the last quarter. Institutional investors and hedge funds 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.