Intuitive Machines (NASDAQ:LUNR) Shares Down 9.6% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price traded down 9.6% during trading on Thursday . The stock traded as low as $15.15 and last traded at $14.92. 10,247,351 shares were traded during trading, a decline of 24% from the average session volume of 13,569,767 shares. The stock had previously closed at $16.50.

Analyst Ratings Changes

Several analysts have issued reports on LUNR shares. Cantor Fitzgerald increased their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Benchmark upped 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. Bank of America assumed coverage on Intuitive Machines in a research note on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price objective for the company. Canaccord Genuity Group upped their target price on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Intuitive Machines in a research report on Tuesday. They set a “hold” rating and a $18.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Intuitive Machines currently has an average rating of “Moderate Buy” and a consensus price target of $16.14.

Intuitive Machines Stock Up 1.3 %

The stock has a 50-day simple moving average of $19.15 and a two-hundred day simple moving average of $12.37. The firm has a market cap of $2.05 billion, a PE ratio of -4.96 and a beta of 0.92.

Insider Activity

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the sale, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. This represents a 9.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Vontur sold 9,266 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $22.50, for a total value of $208,485.00. Following the transaction, the insider now directly owns 98,656 shares in the company, valued at $2,219,760. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 771,632 shares of company stock worth $12,947,078. 73.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuitive Machines

Large investors have recently made changes to their positions in the business. Quarry LP purchased a new stake in Intuitive Machines in the fourth quarter worth $44,000. Jones Financial Companies Lllp raised its holdings in Intuitive Machines by 751.3% in the 4th quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock worth $70,000 after purchasing an additional 3,381 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Intuitive Machines by 201.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock worth $90,000 after purchasing an additional 3,300 shares during the period. Ancora Advisors LLC bought a new stake in shares of Intuitive Machines during the 4th quarter valued at about $91,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Intuitive Machines during the fourth quarter valued at about $183,000. 72.21% of the stock is currently owned by institutional investors.

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.