Intuitive Machines (NASDAQ:LUNR) Sets New 12-Month High – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price reached a new 52-week high on Friday . The stock traded as high as $15.79 and last traded at $15.71, with a volume of 4510201 shares changing hands. The stock had previously closed at $14.45.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Cantor Fitzgerald boosted their price objective on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. B. Riley boosted their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Roth Mkm restated a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday, September 18th. Canaccord Genuity Group upped their target price on shares of Intuitive Machines from $11.00 to $12.50 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Benchmark raised their price target on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Intuitive Machines currently has a consensus rating of “Buy” and a consensus price target of $13.10.

Intuitive Machines Stock Up 13.1 %

The firm’s 50-day simple moving average is $9.49 and its 200-day simple moving average is $6.29. The firm has a market capitalization of $2.29 billion, a PE ratio of -5.56 and a beta of 0.35.

Insider Activity

In other news, Director Kamal Seyed Ghaffarian sold 1,007,928 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $8.31, for a total transaction of $8,375,881.68. Following the completion of the transaction, the director now directly owns 3,494,768 shares of the company’s stock, valued at approximately $29,041,522.08. This represents a 22.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Blitzer sold 662,673 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $8.19, for a total value of $5,427,291.87. Following the completion of the sale, the director now directly owns 1,062,865 shares in the company, valued at $8,704,864.35. The trade was a 38.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,762,371 shares of company stock valued at $38,664,183. 73.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in Intuitive Machines by 31.2% during the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after purchasing an additional 222,136 shares during the period. Vanguard Group Inc. boosted its stake in shares of Intuitive Machines by 250.0% during the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock valued at $3,758,000 after purchasing an additional 429,531 shares in the last quarter. State Street Corp increased its position in shares of Intuitive Machines by 1.3% during the third 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 period. Squarepoint Ops LLC bought a new position in Intuitive Machines in the second quarter worth about $536,000. Finally, Penserra Capital Management LLC lifted its holdings in Intuitive Machines by 16.5% in the third quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock worth $1,190,000 after buying an additional 20,916 shares during the period. Institutional investors 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.