Intuitive Machines (NASDAQ:LUNR) Shares Gap Up – Still a Buy?

Intuitive Machines, Inc. (NASDAQ:LUNR) gapped up before the market opened on Monday . The stock had previously closed at $7.09, but opened at $7.64. Intuitive Machines shares last traded at $8.33, with a volume of 7,211,179 shares changing hands.

Analyst Upgrades and Downgrades

LUNR has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft started coverage on Intuitive Machines in a research report on Tuesday, February 25th. They set a “hold” rating and a $18.00 price target on the stock. Roth Mkm dropped their price target on shares of Intuitive Machines from $20.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Benchmark reissued a “buy” rating and issued a $16.00 price target on shares of Intuitive Machines in a report on Tuesday. Roth Capital set a $20.00 price objective on shares of Intuitive Machines in a research note on Friday, March 7th. Finally, Cantor Fitzgerald cut their target price on shares of Intuitive Machines from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Intuitive Machines presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Intuitive Machines Price Performance

The firm’s fifty day simple moving average is $15.91 and its 200 day simple moving average is $12.96. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -3.13 and a beta of 1.01.

Insider Buying and Selling

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the transaction, the director now owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Steven Vontur sold 9,266 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $22.50, for a total value of $208,485.00. Following the completion of the sale, the insider now directly owns 98,656 shares of the company’s stock, valued at approximately $2,219,760. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 392,713 shares of company stock valued at $7,250,066. Company insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of large investors have recently made changes to their positions in LUNR. Quarry LP acquired a new stake in shares of Intuitive Machines during the fourth quarter worth approximately $44,000. Jones Financial Companies Lllp boosted its stake in shares of Intuitive Machines by 751.3% during the 4th quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock valued at $70,000 after buying an additional 3,381 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of Intuitive Machines during the 3rd quarter valued at $85,000. Steward Partners Investment Advisory LLC increased its stake in shares of Intuitive Machines by 201.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock worth $90,000 after acquiring an additional 3,300 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new stake in shares of Intuitive Machines during the fourth quarter worth $91,000. 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.