Intuitive Machines (NASDAQ:LUNR) Shares Down 0.7% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price fell 0.7% on Monday . The company traded as low as $21.20 and last traded at $21.73. 6,856,777 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 18,606,816 shares. The stock had previously closed at $21.89.

Analysts Set New Price Targets

Several brokerages recently issued reports on LUNR. Roth Mkm reissued a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday, September 18th. Cantor Fitzgerald raised their price target on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Benchmark increased their price objective on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. B. Riley raised 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. Finally, Canaccord Genuity Group lowered their target price on Intuitive Machines from $19.00 to $17.50 and set a “buy” rating on the stock in a report on Friday, December 6th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $14.10.

Intuitive Machines Trading Down 0.6 %

The company has a market cap of $3.05 billion, a price-to-earnings ratio of -7.40 and a beta of 0.90. The company has a fifty day moving average price of $13.04 and a two-hundred day moving average price of $8.11.

Insider Buying and Selling

In other Intuitive Machines news, CEO Stephen J. Altemus sold 61,432 shares of Intuitive Machines stock in a transaction 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 transaction, the chief executive officer now owns 910,919 shares in the company, valued at approximately $10,020,109. The trade was a 6.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.35, for a total value 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 disclosure for this sale can be found here. Insiders sold 1,954,713 shares of company stock worth $24,475,385 in the last 90 days. 73.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors have recently made changes to their positions in LUNR. Geode Capital Management LLC grew its stake in shares of Intuitive Machines by 31.2% during the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after purchasing an additional 222,136 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Intuitive Machines during the second quarter worth $536,000. Bank of New York Mellon Corp acquired a new stake in shares of Intuitive Machines during the second quarter worth $272,000. Stifel Financial Corp acquired a new stake in shares of Intuitive Machines during the third quarter worth $525,000. Finally, FORA Capital LLC acquired a new stake in shares of Intuitive Machines during the third quarter worth $458,000. 72.21% of the stock is owned by institutional investors and hedge funds.

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.