Intuitive Machines (NASDAQ:LUNR) Shares Down 6.9% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) fell 6.9% during mid-day trading on Tuesday . The stock traded as low as $11.92 and last traded at $11.92. 6,079,917 shares were traded during mid-day trading, a decline of 40% from the average session volume of 10,195,802 shares. The stock had previously closed at $12.81.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. B. Riley lifted their target price on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Roth Mkm reissued a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Cantor Fitzgerald lifted their target price 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. Canaccord Genuity Group reduced their target price on shares of Intuitive Machines from $19.00 to $17.50 and set a “buy” rating for the company in a report on Friday. Finally, Benchmark upped 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, the company has a consensus rating of “Buy” and a consensus price target of $14.10.

Intuitive Machines Price Performance

The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -3.98 and a beta of 0.93. The business’s 50 day moving average price is $10.10 and its 200-day moving average price is $6.64.

Insider Activity

In other news, Director Kamal Seyed Ghaffarian sold 570,705 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $6.08, for a total value of $3,469,886.40. Following the completion of the transaction, the director now owns 3,551,606 shares in the company, valued at $21,593,764.48. This trade represents a 13.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Timothy Price Crain II sold 197,637 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $6.05, for a total transaction of $1,195,703.85. Following the completion of the sale, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $2,195,000.50. The trade was a 35.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,130,070 shares of company stock valued at $44,291,568 in the last three months. 73.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently bought and sold shares of LUNR. Barclays PLC raised its stake in Intuitive Machines by 275.2% in the 3rd quarter. Barclays PLC now owns 37,323 shares of the company’s stock valued at $300,000 after purchasing an additional 27,376 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Intuitive Machines by 31.2% during the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after buying an additional 222,136 shares during the period. Savoie Capital LLC acquired a new stake in Intuitive Machines during the third quarter worth approximately $112,000. State Street Corp grew its stake in Intuitive Machines by 1.3% in the 3rd quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after acquiring an additional 7,538 shares during the period. Finally, Stifel Financial Corp acquired a new position in Intuitive Machines in the 3rd quarter valued at $525,000. Hedge funds and other institutional investors 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.