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

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) fell 7.1% during trading on Monday . The company 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

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

Intuitive Machines Trading Up 14.1 %

The stock has a market cap of $2.69 billion, a price-to-earnings ratio of -6.52 and a beta of 0.90. The stock’s 50 day moving average is $14.54 and its two-hundred day moving average is $8.86.

Insider Activity at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 344,893 shares of Intuitive Machines stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $8.02, for a total value of $2,766,041.86. Following the sale, the director now owns 3,494,768 shares of the company’s stock, valued at $28,028,039.36. The trade was a 8.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen J. Altemus sold 61,432 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $11.00, for a total transaction of $675,752.00. Following the transaction, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at $10,020,109. This represents a 6.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,954,713 shares of company stock worth $24,475,385 in the last quarter. Company insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new position in Intuitive Machines in the second quarter valued at about $272,000. Rhumbline Advisers purchased a new position in Intuitive Machines in the 2nd quarter valued at approximately $119,000. XTX Topco Ltd acquired a new position in Intuitive Machines during the second quarter worth $164,000. Squarepoint Ops LLC purchased a new stake in Intuitive Machines during the second quarter worth $536,000. Finally, Sender Co & Partners Inc. acquired a new stake in Intuitive Machines in the second quarter valued at $56,000. 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.