Intuitive Machines (NASDAQ:LUNR) Sets New 12-Month High – What’s Next?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $17.89 and last traded at $17.26, with a volume of 5405566 shares trading hands. The stock had previously closed at $16.65.

Wall Street Analyst Weigh In

LUNR has been the subject of a number of recent analyst reports. Roth Mkm restated a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Benchmark upped their price objective 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. Cantor Fitzgerald upped their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Canaccord Genuity Group cut their price objective on shares of Intuitive Machines from $19.00 to $17.50 and set a “buy” rating for the company in a research report on Friday, December 6th. Finally, B. Riley upped their price objective on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $14.10.

Intuitive Machines Stock Down 3.6 %

The stock has a market cap of $2.58 billion, a price-to-earnings ratio of -6.26 and a beta of 0.91. The company’s 50-day moving average is $11.92 and its 200-day moving average is $7.52.

Insider Buying and Selling

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $15.04, for a total transaction of $5,684,713.92. Following the completion of the sale, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $52,561,310.72. This trade represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Stephen J. Altemus sold 61,432 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $11.00, for a total transaction of $675,752.00. Following the sale, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at approximately $10,020,109. The trade was a 6.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,702,731 shares of company stock valued at $18,475,694 over the last quarter. Corporate insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

Hedge funds have recently modified their holdings of the company. Waldron Private Wealth LLC acquired a new stake in shares of Intuitive Machines during the third quarter worth approximately $83,000. Wedbush Securities Inc. bought a new stake in shares of Intuitive Machines during the second quarter valued at approximately $35,000. The Manufacturers Life Insurance Company bought a new stake in shares of Intuitive Machines during the third quarter valued at approximately $85,000. SG Americas Securities LLC bought a new stake in shares of Intuitive Machines during the third quarter valued at approximately $93,000. Finally, Creative Planning bought a new stake in shares of Intuitive Machines during 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.