Intuitive Machines (NASDAQ:LUNR) Stock Price Down 5.4% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR) shares fell 5.4% during mid-day trading on Thursday . The stock traded as low as $17.87 and last traded at $18.79. 13,412,728 shares were traded during trading, a decline of 28% from the average session volume of 18,565,371 shares. The stock had previously closed at $19.87.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LUNR. 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. Canaccord Genuity Group upped their target price on Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. B. Riley upped their target price on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Benchmark upped their target price on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Roth Mkm reiterated a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $15.80.

Intuitive Machines Trading Down 5.4 %

The company has a 50-day simple moving average of $13.76 and a 200 day simple moving average of $8.42. The firm has a market cap of $2.64 billion, a PE ratio of -6.39 and a beta of 0.90.

Insiders Place Their Bets

In other news, SVP Timothy Price Crain II sold 400,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the transaction, the senior vice president now owns 362,810 shares in the company, valued at $4,390,001. This trade represents a 52.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kamal Seyed Ghaffarian sold 177,734 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $7.93, for a total value of $1,409,430.62. Following the completion of the transaction, the director now directly owns 3,494,768 shares of the company’s stock, valued at approximately $27,713,510.24. This represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,954,713 shares of company stock worth $24,475,385. Corporate insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LUNR. Geode Capital Management LLC raised its stake in Intuitive Machines by 31.2% in the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after purchasing an additional 222,136 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Intuitive Machines in the 2nd quarter worth $536,000. Bank of New York Mellon Corp acquired a new stake in shares of Intuitive Machines in the 2nd quarter worth $272,000. Stifel Financial Corp acquired a new stake in shares of Intuitive Machines in the 3rd quarter worth $525,000. Finally, FORA Capital LLC acquired a new stake in shares of Intuitive Machines in the 3rd quarter worth $458,000. 72.21% of the stock is owned by institutional investors and hedge funds.

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.