Intuitive Machines (NASDAQ:LUNR) Sets New 1-Year High – Time to Buy?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $15.79 and last traded at $15.71, with a volume of 4510201 shares trading hands. The stock had previously closed at $14.45.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Cantor Fitzgerald raised their price objective on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, September 18th. Benchmark boosted their target price 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. Canaccord Genuity Group lifted their price objective on shares of Intuitive Machines from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, B. Riley upped their target price on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Intuitive Machines currently has an average rating of “Buy” and a consensus target price of $13.10.

Intuitive Machines Price Performance

The business’s 50-day simple moving average is $9.35 and its two-hundred day simple moving average is $6.22. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -5.34 and a beta of 0.35.

Insider Activity at Intuitive Machines

In related news, CFO Steven Vontur sold 10,274 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $5.58, for a total value of $57,328.92. Following the sale, the chief financial officer now owns 117,500 shares of the company’s stock, valued at $655,650. The trade was a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 1,007,928 shares of Intuitive Machines stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $8.31, for a total value of $8,375,881.68. Following the transaction, the director now directly owns 3,494,768 shares in the company, valued at $29,041,522.08. The trade was a 22.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,762,371 shares of company stock valued at $38,664,183 in the last 90 days. 73.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in shares of Intuitive Machines by 31.2% in the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after purchasing an additional 222,136 shares during the period. Vanguard Group Inc. boosted its position in Intuitive Machines by 250.0% during the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock valued at $3,758,000 after acquiring an additional 429,531 shares during the last quarter. State Street Corp grew its holdings in Intuitive Machines by 1.3% during the 3rd quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after acquiring an additional 7,538 shares during the period. Squarepoint Ops LLC bought a new position in shares of Intuitive Machines in the 2nd quarter worth about $536,000. Finally, Penserra Capital Management LLC boosted its position in shares of Intuitive Machines by 16.5% during the 3rd quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock valued at $1,190,000 after purchasing an additional 20,916 shares in the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

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.