Intuitive Machines (NASDAQ:LUNR) Trading Down 0% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price was down 0% during trading on Friday . The stock traded as low as $6.81 and last traded at $7.11. Approximately 1,836,418 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 11,591,672 shares. The stock had previously closed at $7.11.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on LUNR shares. Canaccord Genuity Group reduced their price objective on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Bank of America initiated coverage on Intuitive Machines in a research note on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price target for the company. Roth Mkm cut their price target on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Roth Capital set a $20.00 price target on Intuitive Machines in a research note on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Intuitive Machines in a research note on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price target for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Intuitive Machines currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

Intuitive Machines Price Performance

The firm has a market capitalization of $995.06 million, a PE ratio of -2.41 and a beta of 1.01. The stock’s 50-day moving average price is $16.22 and its 200 day moving average price is $12.85.

Insider Transactions at Intuitive Machines

In related 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 transaction, the director now directly owns 3,494,768 shares of the company’s stock, valued at $64,128,992.80. This trade represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Steven Vontur sold 4,528 shares of Intuitive Machines stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the transaction, the insider now directly owns 104,272 shares in the company, valued at approximately $2,043,731.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 392,713 shares of company stock valued at $7,250,066. 73.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new position in Intuitive Machines in the fourth quarter worth $44,000. Jones Financial Companies Lllp grew its holdings in Intuitive Machines by 751.3% in the fourth quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock worth $70,000 after purchasing an additional 3,381 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in Intuitive Machines in the third quarter worth $85,000. Steward Partners Investment Advisory LLC grew its holdings in Intuitive Machines by 201.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock worth $90,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new position in Intuitive Machines in the fourth quarter worth $91,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

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.