Intuitive Machines (NASDAQ:LUNR) Hits New 52-Week High – Here’s Why

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $20.79 and last traded at $20.42, with a volume of 6729337 shares trading hands. The stock had previously closed at $18.16.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Cantor Fitzgerald lifted their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Canaccord Genuity Group cut their price target on Intuitive Machines from $19.00 to $17.50 and set a “buy” rating for the company in a research note on Friday, December 6th. B. Riley increased their price target on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Benchmark boosted their price objective on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Roth Mkm reissued a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, September 18th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $14.10.

Intuitive Machines Price Performance

The company has a market cap of $2.90 billion, a price-to-earnings ratio of -7.03 and a beta of 0.93. The stock has a 50 day simple moving average of $12.53 and a two-hundred day simple moving average of $7.84.

Insider Buying and Selling

In related news, Director Kamal Seyed Ghaffarian sold 125,991 shares of Intuitive Machines stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $7.43, for a total value of $936,113.13. Following the completion of the transaction, the director now owns 3,494,768 shares in the company, valued at approximately $25,966,126.24. The trade was a 3.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Timothy Price Crain II sold 400,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the sale, the senior vice president now owns 362,810 shares in the company, valued at approximately $4,390,001. This trade represents a 52.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,702,731 shares of company stock worth $18,475,694. Insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FORA Capital LLC purchased a new stake in shares of Intuitive Machines during the third quarter worth approximately $458,000. Squarepoint Ops LLC purchased a new stake in shares of Intuitive Machines in the second quarter valued at about $536,000. Stifel Financial Corp acquired a new stake in shares of Intuitive Machines during the third quarter worth about $525,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Intuitive Machines by 44.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock worth $836,000 after buying an additional 32,015 shares during the last quarter. Finally, Wedbush Securities Inc. acquired a new position in Intuitive Machines in the 2nd quarter valued at about $35,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

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.