Intuitive Machines (NASDAQ:LUNR) Shares Down 6.8% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price was down 6.8% during trading on Monday . The stock traded as low as $15.01 and last traded at $15.24. Approximately 5,960,881 shares were traded during mid-day trading, a decline of 40% from the average daily volume of 9,938,642 shares. The stock had previously closed at $16.35.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on LUNR. Canaccord Genuity Group increased their price objective on shares of Intuitive Machines from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Friday, November 15th. Roth Mkm reissued a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Cantor Fitzgerald upped 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. Benchmark lifted their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Finally, B. Riley boosted their target price on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Intuitive Machines currently has a consensus rating of “Buy” and a consensus target price of $13.10.

Intuitive Machines Price Performance

The stock has a fifty day moving average of $9.49 and a 200 day moving average of $6.30. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of -5.18 and a beta of 0.35.

Insider Activity

In other news, Director Kamal Seyed Ghaffarian sold 1,007,928 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $8.31, for a total value of $8,375,881.68. Following the completion of the transaction, the director now owns 3,494,768 shares of the company’s stock, valued at $29,041,522.08. The trade was a 22.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Steven Vontur sold 10,274 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $5.58, for a total value of $57,328.92. Following the sale, the chief financial officer now directly owns 117,500 shares in the company, valued at approximately $655,650. This trade represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,762,371 shares of company stock valued at $38,664,183 in the last ninety days. Insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC lifted its stake in Intuitive Machines by 275.2% in the 3rd quarter. Barclays PLC now owns 37,323 shares of the company’s stock worth $300,000 after purchasing an additional 27,376 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Intuitive Machines by 31.2% in the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after acquiring an additional 222,136 shares during the last quarter. Savoie Capital LLC purchased a new position in shares of Intuitive Machines during the 3rd quarter worth $112,000. State Street Corp boosted its position in shares of Intuitive Machines by 1.3% during the 3rd 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 last quarter. Finally, Stifel Financial Corp purchased a new stake in shares of Intuitive Machines in the third quarter valued at about $525,000. Institutional investors and hedge funds 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.