Intuitive Machines (NASDAQ:LUNR) Shares Down 4.7% – Should You Sell?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) fell 4.7% on Friday . The stock traded as low as $17.30 and last traded at $17.90. 5,054,589 shares traded hands during trading, a decline of 69% from the average session volume of 16,235,721 shares. The stock had previously closed at $18.79.

Wall Street Analysts Forecast Growth

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

Intuitive Machines Trading Down 4.0 %

The company has a market capitalization of $2.53 billion, a P/E ratio of -6.14 and a beta of 0.90. The business’s fifty day moving average price is $13.98 and its 200 day moving average price is $8.50.

Insider Activity

In related news, SVP Timothy Price Crain II sold 400,000 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 362,810 shares in the company, valued at $4,390,001. This represents a 52.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at $64,128,992.80. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,954,713 shares of company stock worth $24,475,385. Insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp bought a new position in shares of Intuitive Machines during the 2nd quarter valued at about $272,000. Rhumbline Advisers acquired a new stake in Intuitive Machines during the 2nd quarter worth approximately $119,000. Wedbush Securities Inc. bought a new position in Intuitive Machines in the second quarter valued at approximately $35,000. XTX Topco Ltd acquired a new position in shares of Intuitive Machines in the second quarter valued at approximately $164,000. Finally, Squarepoint Ops LLC acquired a new position in shares of Intuitive Machines in the second quarter valued at approximately $536,000. 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.