Intuitive Machines (NASDAQ:LUNR) Shares Down 5.4% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price dropped 5.4% during trading on Thursday . The stock traded as low as $17.87 and last traded at $18.79. Approximately 13,412,728 shares traded hands during trading, a decline of 28% from the average daily volume of 18,565,371 shares. The stock had previously closed at $19.87.

Analysts Set New Price Targets

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

Intuitive Machines Stock Performance

The firm’s 50 day moving average price is $14.18 and its two-hundred day moving average price is $8.59. The company has a market cap of $2.51 billion, a P/E ratio of -6.08 and a beta of 0.90.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Price Crain II sold 400,000 shares of Intuitive Machines stock in a transaction on Wednesday, November 13th. The shares were 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 directly owns 362,810 shares of the company’s stock, valued at $4,390,001. The trade was a 52.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 344,893 shares of Intuitive Machines stock in a transaction on Monday, October 21st. The stock was sold at an average price of $8.02, for a total transaction of $2,766,041.86. Following the transaction, the director now directly owns 3,494,768 shares in the company, valued at $28,028,039.36. This represents a 8.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,954,713 shares of company stock valued at $24,475,385. 73.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds have recently bought and sold shares of LUNR. Wedbush Securities Inc. purchased a new position in shares of Intuitive Machines in the 2nd quarter worth about $35,000. Sender Co & Partners Inc. purchased a new position in shares of Intuitive Machines in the 2nd quarter worth about $56,000. Waldron Private Wealth LLC purchased a new position in shares of Intuitive Machines in the 3rd quarter worth about $83,000. The Manufacturers Life Insurance Company purchased a new position in shares of Intuitive Machines in the 3rd quarter worth about $85,000. Finally, SG Americas Securities LLC purchased a new position in shares of Intuitive Machines in the 3rd quarter worth about $93,000. 72.21% of the stock is 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.