Intuitive Machines (NASDAQ:LUNR) Shares Down 0.6% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares dropped 0.6% during mid-day trading on Thursday . The stock traded as low as $21.58 and last traded at $22.33. Approximately 5,034,128 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 14,486,384 shares. The stock had previously closed at $22.45.

Analysts Set New Price Targets

Several research firms have recently weighed in on LUNR. Benchmark increased their price target on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Cantor Fitzgerald increased their target price 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. Finally, Canaccord Genuity Group boosted their price target on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $15.80.

Intuitive Machines Stock Performance

The firm has a market cap of $3.08 billion, a P/E ratio of -7.39 and a beta of 0.90. The firm has a 50 day simple moving average of $15.74 and a 200 day simple moving average of $9.51.

Insider Transactions at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 74,248 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $8.03, for a total transaction of $596,211.44. Following the completion of the transaction, the director now directly owns 3,494,768 shares in the company, valued at $28,062,987.04. The trade was a 2.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy Price Crain II sold 400,000 shares of the firm’s 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 sale, the senior vice president now directly 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 ninety days, insiders have sold 1,609,820 shares of company stock valued at $21,709,343. 73.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Waldron Private Wealth LLC bought a new position in shares of Intuitive Machines during the 3rd quarter valued at about $83,000. The Manufacturers Life Insurance Company bought a new position in Intuitive Machines during the third quarter valued at approximately $85,000. SG Americas Securities LLC purchased a new position in shares of Intuitive Machines during the third quarter worth approximately $93,000. Creative Planning bought a new stake in shares of Intuitive Machines in the 3rd quarter worth approximately $105,000. Finally, LMR Partners LLP purchased a new stake in shares of Intuitive Machines in the 3rd quarter valued at $110,000. Hedge funds and other institutional investors 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.