Intuitive Machines (NASDAQ:LUNR) Trading Down 4.8% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LUNR. Roth Mkm reiterated a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, September 18th. Canaccord Genuity Group raised their target price on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a report on Wednesday. B. Riley upped their target price on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Benchmark raised their price target on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Cantor Fitzgerald upped their price target 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. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $15.80.

Intuitive Machines Trading Down 5.4 %

The firm has a 50-day moving average of $13.76 and a 200 day moving average of $8.42. The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -6.39 and a beta of 0.90.

Insider Activity

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 344,893 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $8.02, for a total transaction of $2,766,041.86. Following the completion of the transaction, the director now directly owns 3,494,768 shares of the company’s stock, valued at approximately $28,028,039.36. This trade represents a 8.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Timothy Price Crain II sold 400,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total value of $4,840,000.00. Following the completion of the sale, the senior vice president now directly owns 362,810 shares in the company, valued at $4,390,001. This represents a 52.44 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,954,713 shares of company stock valued at $24,475,385. Company insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC raised its position in shares of Intuitive Machines by 31.2% during the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after purchasing an additional 222,136 shares during the period. Squarepoint Ops LLC acquired a new stake in Intuitive Machines during the 2nd quarter worth about $536,000. Bank of New York Mellon Corp acquired a new stake in Intuitive Machines during the 2nd quarter worth about $272,000. Stifel Financial Corp acquired a new position in shares of Intuitive Machines in the third quarter worth about $525,000. Finally, FORA Capital LLC purchased a new position in shares of Intuitive Machines in the third quarter worth approximately $458,000. 72.21% of the stock is 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.