Intuitive Machines (NASDAQ:LUNR) Trading Down 0.6% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) was down 0.6% during mid-day trading on Thursday . The stock traded as low as $21.58 and last traded at $22.33. Approximately 5,034,128 shares were traded during trading, a decline of 65% from the average daily volume of 14,486,384 shares. The stock had previously closed at $22.45.

Wall Street Analyst Weigh In

LUNR has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their price objective on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald lifted their price target on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Benchmark increased their price objective on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.80.

Intuitive Machines Price Performance

The company has a market capitalization of $3.24 billion, a P/E ratio of -7.85 and a beta of 0.90. The company has a 50 day moving average of $15.98 and a 200-day moving average of $9.60.

Insider Transactions at Intuitive Machines

In related news, SVP Timothy Price Crain II sold 400,000 shares of the 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 directly owns 362,810 shares of the company’s stock, valued at $4,390,001. This represents a 52.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen J. Altemus sold 61,432 shares of Intuitive Machines stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $11.00, for a total value of $675,752.00. Following the sale, the chief executive officer now directly owns 910,919 shares in the company, valued at approximately $10,020,109. The trade was a 6.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,609,820 shares of company stock worth $21,709,343. 73.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in LUNR. Sender Co & Partners Inc. bought a new position in Intuitive Machines in the second quarter worth $56,000. Waldron Private Wealth LLC purchased a new stake in shares of Intuitive Machines in the 3rd quarter worth about $83,000. The Manufacturers Life Insurance Company bought a new position in shares of Intuitive Machines in the 3rd quarter worth about $85,000. SG Americas Securities LLC purchased a new position in Intuitive Machines during the 3rd quarter valued at about $93,000. Finally, Creative Planning bought a new stake in Intuitive Machines during the third quarter worth about $105,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

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.