Intuitive Machines (NASDAQ:LUNR) Trading Down 7.1% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares dropped 7.1% during mid-day trading on Monday . The company traded as low as $15.86 and last traded at $16.60. Approximately 5,539,967 shares were traded during trading, a decline of 64% from the average daily volume of 15,335,358 shares. The stock had previously closed at $17.87.

Analyst Ratings Changes

LUNR has been the topic of several research reports. Cantor Fitzgerald raised their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Benchmark lifted their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Canaccord Genuity Group boosted their target price on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Roth Mkm reissued a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a report on Wednesday, September 18th. Finally, B. Riley raised their price target on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $15.80.

Intuitive Machines Stock Down 6.3 %

The firm has a 50 day moving average price of $14.18 and a two-hundred day moving average price of $8.67. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -5.69 and a beta of 0.90.

Insiders Place Their Bets

In other Intuitive Machines news, SVP Timothy Price Crain II sold 400,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 362,810 shares in the company, valued at approximately $4,390,001. This represents a 52.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kamal Seyed Ghaffarian sold 344,893 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $8.02, for a total value of $2,766,041.86. Following the completion of the sale, the director now owns 3,494,768 shares in the company, valued at approximately $28,028,039.36. This represents a 8.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,954,713 shares of company stock valued at $24,475,385. Company insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Institutional investors have recently added to or reduced their stakes in the company. Wedbush Securities Inc. bought a new stake in shares of Intuitive Machines in the 2nd quarter worth approximately $35,000. Sender Co & Partners Inc. bought a new position in shares of Intuitive Machines in the second quarter valued at $56,000. Waldron Private Wealth LLC bought a new position in shares of Intuitive Machines in the third quarter valued at $83,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Intuitive Machines during the 3rd quarter valued at $85,000. Finally, SG Americas Securities LLC bought a new stake in shares of Intuitive Machines during the 3rd quarter worth $93,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Machines Company Profile

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.