Intuitive Machines (NASDAQ:LUNR) Stock Price Down 5% – Here’s Why

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) fell 5% on Tuesday . The stock traded as low as $17.81 and last traded at $17.99. 7,233,575 shares were traded during trading, a decline of 31% from the average session volume of 10,508,487 shares. The stock had previously closed at $18.94.

Analyst Ratings Changes

A number of research firms have issued reports on LUNR. B. Riley boosted their target price on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Canaccord Genuity Group lowered their target price on Intuitive Machines from $19.00 to $17.50 and set a “buy” rating for the company in a research note on Friday, December 6th. Cantor Fitzgerald raised their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Roth Mkm reiterated a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Finally, Benchmark raised their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Intuitive Machines presently has a consensus rating of “Buy” and a consensus target price of $14.10.

Intuitive Machines Stock Performance

The stock has a market cap of $2.50 billion, a price-to-earnings ratio of -6.05 and a beta of 0.93. The business has a 50-day simple moving average of $12.14 and a two-hundred day simple moving average of $7.67.

Insider Buying and Selling

In other news, CEO Stephen J. Altemus sold 61,432 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $11.00, for a total value of $675,752.00. Following the completion of the sale, the chief executive officer now owns 910,919 shares of the company’s stock, valued at approximately $10,020,109. This represents a 6.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 125,991 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $7.43, for a total transaction of $936,113.13. Following the transaction, the director now owns 3,494,768 shares in the company, valued at approximately $25,966,126.24. The trade was a 3.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,702,731 shares of company stock worth $18,475,694. 73.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Waldron Private Wealth LLC acquired a new stake in Intuitive Machines in the 3rd quarter valued at about $83,000. Wedbush Securities Inc. acquired a new stake in shares of Intuitive Machines in the second quarter valued at approximately $35,000. The Manufacturers Life Insurance Company acquired a new position in shares of Intuitive Machines during the 3rd quarter worth approximately $85,000. SG Americas Securities LLC bought a new stake in Intuitive Machines in the 3rd quarter valued at $93,000. Finally, Creative Planning acquired a new stake in Intuitive Machines during the 3rd quarter valued at $105,000. 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.