Intuitive Machines (NASDAQ:LUNR) Trading Down 2.9% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price was down 2.9% during mid-day trading on Monday . The stock traded as low as $18.50 and last traded at $18.51. Approximately 9,838,860 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 15,072,917 shares. The stock had previously closed at $19.06.

Analyst Ratings Changes

Several brokerages have issued reports on LUNR. Cantor Fitzgerald raised their price target on 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 Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a 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 company a “buy” rating in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $15.80.

Intuitive Machines Trading Down 2.9 %

The company has a market cap of $2.60 billion, a P/E ratio of -6.30 and a beta of 0.90. The company has a 50 day moving average price of $15.13 and a 200-day moving average price of $9.18.

Insider Buying and Selling at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction on Monday, December 30th. The stock was 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. The trade was a 9.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Stephen J. Altemus sold 138,568 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $11.10, for a total transaction of $1,538,104.80. Following the completion of the transaction, the chief executive officer now owns 910,919 shares of the company’s stock, valued at approximately $10,111,200.90. This trade represents a 13.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,609,820 shares of company stock worth $21,709,343 over the last 90 days. 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. Sender Co & Partners Inc. acquired a new stake in shares of Intuitive Machines during the second quarter worth $56,000. Waldron Private Wealth LLC bought a new stake in Intuitive Machines in the 3rd quarter valued at about $83,000. The Manufacturers Life Insurance Company purchased a new position in shares of Intuitive Machines during the third quarter valued at approximately $85,000. SG Americas Securities LLC bought a new stake in Intuitive Machines during the third quarter worth $93,000. Finally, Creative Planning bought a new position in Intuitive Machines during the 3rd quarter valued at $105,000. 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.