Intuitive Machines (NASDAQ:LUNR) Trading Down 0.7% – Time to Sell?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) dropped 0.7% during trading on Monday . The stock traded as low as $21.20 and last traded at $21.73. Approximately 6,856,777 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 18,606,816 shares. The stock had previously closed at $21.89.

Analyst Ratings Changes

A number of research firms have recently weighed in on LUNR. B. Riley increased their target price on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Cantor Fitzgerald raised their target price on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Benchmark upped their price target on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. 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. Finally, Canaccord Genuity Group upped their price objective on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $15.80.

Intuitive Machines Trading Down 5.4 %

The business has a fifty day moving average of $13.54 and a 200-day moving average of $8.35. The firm has a market cap of $2.64 billion, a PE ratio of -6.39 and a beta of 0.90.

Insider Activity

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction 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 transaction, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Timothy Price Crain II sold 400,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total value 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 disclosure for this sale can be found here. Insiders sold 1,954,713 shares of company stock worth $24,475,385 in the last three months. Corporate insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in Intuitive Machines in the second quarter worth $272,000. Rhumbline Advisers purchased a new stake in Intuitive Machines in the second quarter worth approximately $119,000. Wedbush Securities Inc. bought a new stake in Intuitive Machines in the 2nd quarter worth approximately $35,000. XTX Topco Ltd purchased a new stake in Intuitive Machines during the 2nd quarter valued at $164,000. Finally, Squarepoint Ops LLC bought a new position in shares of Intuitive Machines during the 2nd quarter valued at $536,000. 72.21% of the stock is currently owned by 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.