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

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

Wall Street Analyst Weigh In

LUNR has been the topic of several analyst reports. Benchmark increased their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 15th. B. Riley raised their price objective on 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 issued a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Cantor Fitzgerald lifted their price objective on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Canaccord Genuity Group lowered 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 research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Intuitive Machines currently has a consensus rating of “Buy” and a consensus target price of $14.10.

Intuitive Machines Stock Down 9.5 %

The stock has a fifty day moving average of $13.31 and a 200-day moving average of $8.24. The firm has a market capitalization of $2.76 billion, a P/E ratio of -6.70 and a beta of 0.90.

Insider Activity

In other Intuitive Machines news, SVP Timothy Price Crain II sold 400,000 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at $4,390,001. The trade was a 52.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Stephen J. Altemus sold 61,432 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $11.00, for a total value of $675,752.00. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold 1,954,713 shares of company stock worth $24,475,385 over the last ninety days. Insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

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