Intuitive Machines (NASDAQ:LUNR) Shares Down 16.4% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) dropped 16.4% on Wednesday . The company traded as low as $15.61 and last traded at $15.7960. Approximately 9,533,391 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 10,634,745 shares. The stock had previously closed at $18.90.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LUNR. Cantor Fitzgerald reiterated an “overweight” rating on shares of Intuitive Machines in a research report on Wednesday, December 3rd. Bank of America raised their price target on shares of Intuitive Machines from $8.50 to $9.50 and gave the stock an “underperform” rating in a research note on Wednesday, November 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a report on Thursday, January 22nd. B. Riley Financial reissued a “buy” rating on shares of Intuitive Machines in a research report on Tuesday, February 17th. Finally, Stifel Nicolaus set a $20.00 target price on shares of Intuitive Machines and gave the stock a “hold” rating in a research report on Friday, January 9th. Nine equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Intuitive Machines presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.27.

Intuitive Machines Price Performance

The stock has a market cap of $2.92 billion, a price-to-earnings ratio of -6.55 and a beta of 1.37. The firm’s 50-day moving average is $17.84 and its 200 day moving average is $12.92.

Insider Buying and Selling at Intuitive Machines

In related news, CEO Stephen J. Altemus sold 86,803 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $16.01, for a total value of $1,389,716.03. Following the completion of the sale, the chief executive officer directly owned 1,176,246 shares in the company, valued at approximately $18,831,698.46. This represents a 6.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Vontur sold 4,343 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $17.44, for a total value of $75,741.92. Following the completion of the sale, the insider owned 117,047 shares of the company’s stock, valued at approximately $2,041,299.68. This trade represents a 3.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,689,913 shares of company stock worth $62,240,781 over the last three months. 39.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. grew its holdings in Intuitive Machines by 19.7% during the 1st quarter. Invesco Ltd. now owns 16,092 shares of the company’s stock valued at $120,000 after purchasing an additional 2,643 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Intuitive Machines by 43.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,715 shares of the company’s stock valued at $184,000 after buying an additional 7,528 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of Intuitive Machines during the first quarter valued at about $139,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Intuitive Machines by 37.4% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 356,856 shares of the company’s stock valued at $3,879,000 after acquiring an additional 97,150 shares in the last quarter. Finally, AlphaQuest LLC increased its position in shares of Intuitive Machines by 1,325.5% during the second quarter. AlphaQuest LLC now owns 18,660 shares of the company’s stock worth $203,000 after acquiring an additional 17,351 shares during the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

About Intuitive Machines

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.