Intuitive Machines, Inc. (NASDAQ:LUNR) Short Interest Up 59.9% in April

Intuitive Machines, Inc. (NASDAQ:LUNR) was the target of a large growth in short interest in April. As of April 15th, there was short interest totalling 6,030,000 shares, a growth of 59.9% from the March 31st total of 3,770,000 shares. Based on an average daily trading volume, of 9,890,000 shares, the short-interest ratio is currently 0.6 days. Currently, 14.2% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

LUNR has been the subject of several recent analyst reports. Roth Mkm restated a “buy” rating and set a $15.00 target price on shares of Intuitive Machines in a research report on Thursday, April 4th. Benchmark reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Thursday, April 4th. Finally, Cantor Fitzgerald reduced their target price on Intuitive Machines from $13.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd.

Intuitive Machines Trading Up 0.2 %

Shares of NASDAQ LUNR traded up $0.01 during trading hours on Friday, reaching $5.44. The stock had a trading volume of 1,461,672 shares, compared to its average volume of 3,385,477. Intuitive Machines has a 52-week low of $2.09 and a 52-week high of $13.25. The firm has a market cap of $663.63 million, a price-to-earnings ratio of 2.20 and a beta of 0.23. The business’s fifty day moving average price is $6.00 and its two-hundred day moving average price is $4.12.

Intuitive Machines (NASDAQ:LUNR) last issued its earnings results on Monday, March 25th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.01. Intuitive Machines had a negative return on equity of 2.04% and a net margin of 78.98%. The business had revenue of $30.56 million during the quarter, compared to analysts’ expectations of $17.70 million. Equities research analysts anticipate that Intuitive Machines will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Intuitive Machines news, major shareholder Guy Shanon sold 123,717 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $8.99, for a total transaction of $1,112,215.83. Following the sale, the insider now directly owns 1,302,673 shares of the company’s stock, valued at $11,711,030.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 78.93% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Several hedge funds have recently modified their holdings of LUNR. Solstein Capital LLC bought a new position in Intuitive Machines in the first quarter worth approximately $44,000. Hemington Wealth Management purchased a new position in shares of Intuitive Machines in the 4th quarter valued at $26,000. Sanders Morris Harris LLC bought a new position in shares of Intuitive Machines in the 1st quarter worth $119,000. Tealwood Asset Management Inc. bought a new stake in Intuitive Machines during the first quarter valued at about $131,000. Finally, Inscription Capital LLC bought a new stake in Intuitive Machines during the first quarter valued at about $304,000. Hedge funds and other 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.