Intuitive Machines (NASDAQ:LUNR) Trading Down 4.8% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) was down 4.8% during trading on Tuesday . The company traded as low as $20.30 and last traded at $20.72. Approximately 6,228,628 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 17,562,473 shares. The stock had previously closed at $21.76.

Wall Street Analyst Weigh In

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

Intuitive Machines Trading Down 5.4 %

The company’s 50 day simple moving average is $13.76 and its 200 day simple moving average is $8.42. The stock has a market capitalization of $2.64 billion, a PE ratio of -6.39 and a beta of 0.90.

Insider Activity

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.35, for a total value of $6,935,804.55. Following the transaction, the director now directly owns 3,494,768 shares in the company, valued at $64,128,992.80. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Stephen J. Altemus sold 61,432 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at approximately $10,020,109. This trade represents a 6.32 % 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 valued at $24,475,385 over the last quarter. Company insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

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

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.