Intuitive Machines (NASDAQ:LUNR) Trading Down 7.1% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) fell 7.1% during mid-day trading on Monday . The company traded as low as $15.86 and last traded at $16.60. 5,539,967 shares were traded during trading, a decline of 64% from the average session volume of 15,335,358 shares. The stock had previously closed at $17.87.

Analyst Upgrades and Downgrades

LUNR has been the subject of several analyst reports. Roth Mkm reiterated a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. B. Riley increased 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. Benchmark lifted their price target 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 raised their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Canaccord Genuity Group upped their price target on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $15.80.

Intuitive Machines Trading Up 14.1 %

The business’s 50-day moving average is $14.54 and its two-hundred day moving average is $8.86. The stock has a market capitalization of $2.69 billion, a PE ratio of -6.52 and a beta of 0.90.

Insider Activity

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the sale, the director now owns 3,494,768 shares in the company, valued at $64,128,992.80. This trade represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Timothy Price Crain II sold 400,000 shares of Intuitive Machines stock in a transaction 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 sale, the senior vice president now directly owns 362,810 shares in the company, valued at $4,390,001. This trade represents a 52.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,954,713 shares of company stock worth $24,475,385. 73.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in shares of Intuitive Machines by 31.2% during the 3rd 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 last quarter. Squarepoint Ops LLC bought a new position in Intuitive Machines in the second quarter worth about $536,000. Bank of New York Mellon Corp acquired a new position in Intuitive Machines in the second quarter valued at approximately $272,000. Stifel Financial Corp bought a new position in shares of Intuitive Machines during the third quarter valued at approximately $525,000. Finally, FORA Capital LLC acquired a new stake in shares of Intuitive Machines during the 3rd quarter worth approximately $458,000. Institutional investors and hedge funds 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.