Intuitive Machines (NASDAQ:LUNR) Shares Down 8.5% – Time to Sell?

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on LUNR. Cantor Fitzgerald raised their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. B. Riley raised their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Benchmark upped their price objective on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Canaccord Genuity Group raised 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. Finally, Roth Mkm restated a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Intuitive Machines has an average rating of “Buy” and a consensus target price of $15.80.

Intuitive Machines Trading Down 5.0 %

The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -6.42 and a beta of 0.90. The stock’s fifty day simple moving average is $13.54 and its 200-day simple moving average is $8.35.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $15.04, for a total transaction of $5,684,713.92. Following the completion of the sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at $52,561,310.72. The trade was a 9.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy Price Crain II sold 400,000 shares of the stock in a transaction dated 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 completion of the transaction, 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,954,713 shares of company stock valued at $24,475,385. 73.68% of the stock is currently owned by company insiders.

Institutional Trading of Intuitive Machines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in Intuitive Machines by 1.3% in the third quarter. State Street Corp now owns 576,051 shares of the company’s stock valued at $4,637,000 after acquiring an additional 7,538 shares in the last quarter. Waldron Private Wealth LLC acquired a new stake in shares of Intuitive Machines in the 3rd quarter valued at about $83,000. Wedbush Securities Inc. purchased a new position in Intuitive Machines during the 2nd quarter worth approximately $35,000. The Manufacturers Life Insurance Company purchased a new position in Intuitive Machines during the 3rd quarter worth approximately $85,000. Finally, SG Americas Securities LLC acquired a new position in Intuitive Machines during the third quarter worth approximately $93,000. Institutional investors and hedge funds 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.