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

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Benchmark upped their price target on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Canaccord Genuity Group increased their target price on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Cantor Fitzgerald boosted their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Intuitive Machines has a consensus rating of “Buy” and an average target price of $15.80.

Intuitive Machines Stock Up 4.1 %

The company has a 50-day moving average price of $15.98 and a two-hundred day moving average price of $9.60. The stock has a market capitalization of $3.24 billion, a P/E ratio of -7.85 and a beta of 0.90.

Insiders Place Their Bets

In related news, CEO Stephen J. Altemus sold 61,432 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at $10,020,109. This trade represents a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the completion of the sale, the director now directly owns 3,494,768 shares in the company, valued at $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,609,820 shares of company stock worth $21,709,343 in the last three months. 73.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Intuitive Machines

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