Intuitive Machines (NASDAQ:LUNR) Trading Down 8.5% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price fell 8.5% during trading on Wednesday . The stock traded as low as $18.02 and last traded at $18.18. 7,574,165 shares were traded during trading, a decline of 56% from the average session volume of 17,293,445 shares. The stock had previously closed at $19.87.

Analyst Ratings Changes

Several analysts recently commented on LUNR shares. Canaccord Genuity Group raised their target price on Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. B. Riley lifted their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Cantor Fitzgerald boosted 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. Benchmark increased their target price on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday, September 18th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $15.80.

Intuitive Machines Price Performance

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

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Price Crain II sold 400,000 shares of the company’s 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 completion of the sale, the senior vice president now owns 362,810 shares in the company, valued at approximately $4,390,001. The trade was a 52.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen J. Altemus sold 61,432 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $11.00, for a total value of $675,752.00. Following the transaction, the chief executive officer now owns 910,919 shares of the company’s stock, valued at $10,020,109. The trade was a 6.32 % 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 worth $24,475,385. 73.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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.