Intuitive Machines (NASDAQ:LUNR) Trading Down 7.1% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR) fell 7.1% during trading on Monday . The stock traded as low as $15.86 and last traded at $16.60. 5,539,967 shares were traded during trading, a decline of 64% from the average session volume of 15,335,358 shares. The stock had previously closed at $17.87.

Wall Street Analyst Weigh In

Several research firms have commented on LUNR. Cantor Fitzgerald upped their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Canaccord Genuity Group lifted their target price on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Roth Mkm reissued a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. B. Riley lifted their price target on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Benchmark increased their price target on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $15.80.

Intuitive Machines Stock Performance

The company has a 50 day moving average of $14.18 and a 200 day moving average of $8.67. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of -5.69 and a beta of 0.90.

Insiders Place Their Bets

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines 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 sale, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Timothy Price Crain II sold 400,000 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $4,390,001. This trade represents a 52.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,954,713 shares of company stock valued at $24,475,385 in the last ninety days. 73.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Intuitive Machines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LUNR. Geode Capital Management LLC raised its holdings in Intuitive Machines by 31.2% in the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after acquiring an additional 222,136 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Intuitive Machines during the 2nd quarter worth about $536,000. Bank of New York Mellon Corp acquired a new position in shares of Intuitive Machines during the 2nd quarter worth about $272,000. Stifel Financial Corp acquired a new position in shares of Intuitive Machines during the 3rd quarter worth about $525,000. Finally, FORA Capital LLC purchased a new position in shares of Intuitive Machines in the 3rd quarter valued at about $458,000. 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.