Intuitive Machines (NASDAQ:LUNR) Sees Unusually-High Trading Volume – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) saw an uptick in trading volume on Friday . 8,710,354 shares changed hands during mid-day trading, a decline of 40% from the previous session’s volume of 14,552,485 shares.The stock last traded at $23.53 and had previously closed at $22.17.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group raised their target price on Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Benchmark raised their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, Cantor Fitzgerald upped their price objective on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Intuitive Machines has an average rating of “Buy” and a consensus price target of $15.80.

Intuitive Machines Trading Up 9.6 %

The company has a market capitalization of $3.41 billion, a P/E ratio of -8.19 and a beta of 0.90. The stock’s fifty day moving average is $15.98 and its 200 day moving average is $9.60.

Insider Activity

In other Intuitive Machines news, CEO Stephen J. Altemus sold 61,432 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 910,919 shares of the company’s stock, valued at approximately $10,020,109. This trade represents a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kamal Seyed Ghaffarian sold 177,734 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $7.93, for a total transaction of $1,409,430.62. Following the completion of the transaction, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $27,713,510.24. The trade was a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,609,820 shares of company stock valued at $21,709,343. Insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sender Co & Partners Inc. purchased a new stake in shares of Intuitive Machines in the second quarter worth $56,000. Waldron Private Wealth LLC purchased a new stake in Intuitive Machines during the 3rd quarter valued at about $83,000. The Manufacturers Life Insurance Company purchased a new position in Intuitive Machines in the third quarter worth about $85,000. SG Americas Securities LLC bought a new position in shares of Intuitive Machines in the third quarter worth approximately $93,000. Finally, Creative Planning bought a new position in shares of Intuitive Machines in the third quarter worth approximately $105,000. 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.