Intuitive Machines (NASDAQ:LUNR) Trading Down 4.8% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) fell 4.8% during trading on Tuesday . The stock traded as low as $20.30 and last traded at $20.72. 6,228,628 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 17,562,473 shares. The stock had previously closed at $21.76.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on LUNR shares. B. Riley raised their price objective on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Roth Mkm restated a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Benchmark upped 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 lifted their price objective on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Canaccord Genuity Group cut their target price on Intuitive Machines from $19.00 to $17.50 and set a “buy” rating for the company in a research note on Friday, December 6th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $14.10.

Intuitive Machines Stock Down 9.5 %

The stock has a market capitalization of $2.76 billion, a P/E ratio of -6.70 and a beta of 0.90. The business has a 50-day simple moving average of $13.31 and a two-hundred day simple moving average of $8.24.

Insider Activity at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 344,893 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were 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 approximately $28,028,039.36. This represents a 8.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Stephen J. Altemus sold 61,432 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $11.00, for a total transaction of $675,752.00. Following the completion of the sale, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at approximately $10,020,109. This represents a 6.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,954,713 shares of company stock valued at $24,475,385 in the last ninety days. Insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wedbush Securities Inc. acquired a new position in Intuitive Machines in the second quarter valued at approximately $35,000. Sender Co & Partners Inc. acquired a new position in shares of Intuitive Machines in the 2nd quarter valued at $56,000. Waldron Private Wealth LLC bought a new position in shares of Intuitive Machines in the 3rd quarter worth $83,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Intuitive Machines during the third quarter worth $85,000. Finally, SG Americas Securities LLC bought a new stake in Intuitive Machines in the third quarter valued at about $93,000. 72.21% of the stock is 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.