Intuitive Machines (NASDAQ:LUNR) Trading Down 2.8% – Should You Sell?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) traded down 2.8% on Thursday . The company traded as low as $18.47 and last traded at $18.64. 5,107,035 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 14,227,460 shares. The stock had previously closed at $19.18.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Benchmark lifted their price objective on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Cantor Fitzgerald lifted their price objective on 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 lifted their price objective on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $15.80.

Intuitive Machines Stock Down 2.9 %

The company has a market capitalization of $2.60 billion, a P/E ratio of -6.30 and a beta of 0.90. The company has a 50-day moving average of $15.13 and a two-hundred day moving average of $9.10.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Price Crain II sold 400,000 shares of Intuitive Machines stock in a transaction on 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 in the company, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen J. Altemus sold 61,432 shares of Intuitive Machines stock in a transaction on Monday, November 11th. The shares were sold at an average price of $11.00, for a total value of $675,752.00. Following 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. 73.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LUNR. Sender Co & Partners Inc. purchased a new position in shares of Intuitive Machines in the second quarter worth $56,000. Waldron Private Wealth LLC purchased a new position in shares of Intuitive Machines in the third quarter worth $83,000. The Manufacturers Life Insurance Company purchased a new position in shares of Intuitive Machines in the third quarter worth $85,000. SG Americas Securities LLC purchased a new position in shares of Intuitive Machines in the third quarter worth $93,000. Finally, Creative Planning purchased a new position in shares of Intuitive Machines in the third quarter worth $105,000. 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.