Intuitive Machines (NASDAQ:LUNR) Shares Down 4.7% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price was down 4.7% during trading on Friday . The company traded as low as $17.30 and last traded at $17.90. Approximately 5,054,589 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 16,235,721 shares. The stock had previously closed at $18.79.

Analyst Ratings Changes

Several research analysts have recently weighed in on LUNR shares. Canaccord Genuity Group upped their price objective on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday. Benchmark upped their price target on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. 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. Roth Mkm restated a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a report on Wednesday, September 18th. Finally, B. Riley lifted their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Intuitive Machines currently has a consensus rating of “Buy” and a consensus target price of $15.80.

Intuitive Machines Trading Down 4.0 %

The business has a 50 day moving average price of $13.98 and a 200-day moving average price of $8.50. The company has a market cap of $2.53 billion, a P/E ratio of -6.14 and a beta of 0.90.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Price Crain II sold 400,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total value of $4,840,000.00. Following the transaction, the senior vice president now directly owns 362,810 shares in the company, valued at $4,390,001. The trade was a 52.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 177,734 shares of the firm’s 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 sale, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $27,713,510.24. This represents a 4.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,954,713 shares of company stock worth $24,475,385 over the last quarter. 73.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LUNR. State Street Corp boosted its position in shares of Intuitive Machines by 1.3% in the third quarter. State Street Corp now owns 576,051 shares of the company’s stock valued at $4,637,000 after acquiring an additional 7,538 shares during the period. Waldron Private Wealth LLC bought a new stake in Intuitive Machines in the 3rd quarter valued at about $83,000. Wedbush Securities Inc. bought a new stake in Intuitive Machines in the 2nd quarter valued at about $35,000. The Manufacturers Life Insurance Company acquired a new position in shares of Intuitive Machines during the 3rd quarter worth approximately $85,000. Finally, SG Americas Securities LLC bought a new position in shares of Intuitive Machines during the third quarter worth approximately $93,000. 72.21% of the stock is owned by 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.