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

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

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on LUNR shares. Benchmark increased their price target on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Canaccord Genuity Group upped their target price on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday. B. Riley raised their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Cantor Fitzgerald lifted their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Roth Mkm restated a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $15.80.

Intuitive Machines Stock Performance

The firm has a market capitalization of $2.51 billion, a P/E ratio of -6.08 and a beta of 0.90. The stock has a 50 day moving average of $14.18 and a 200-day moving average of $8.59.

Insider Buying and Selling

In other news, SVP Timothy Price Crain II sold 400,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the completion of the transaction, the senior vice president now owns 362,810 shares of the company’s stock, valued at approximately $4,390,001. The trade was a 52.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 177,734 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $7.93, for a total transaction of $1,409,430.62. Following the sale, the director now owns 3,494,768 shares in the company, valued at approximately $27,713,510.24. This trade represents a 4.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders 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

A number of institutional investors have recently made changes to their positions in the business. FORA Capital LLC bought a new position in shares of Intuitive Machines during the third quarter valued at about $458,000. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 222,136 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Intuitive Machines in the 2nd quarter worth approximately $536,000. Stifel Financial Corp purchased a new stake in Intuitive Machines during the 3rd quarter valued at about $525,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Intuitive Machines by 44.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock valued at $836,000 after acquiring an additional 32,015 shares in the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

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.