Intuitive Machines (NASDAQ:LUNR) Shares Down 6.8% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) fell 6.8% during trading on Monday . The stock traded as low as $15.01 and last traded at $15.24. 5,960,881 shares changed hands during trading, a decline of 40% from the average session volume of 9,938,642 shares. The stock had previously closed at $16.35.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on LUNR. Benchmark increased their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Roth Mkm reiterated a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a research report on Wednesday, September 18th. B. Riley boosted their price target on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Cantor Fitzgerald raised their price objective on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Canaccord Genuity Group upped their target price on Intuitive Machines from $11.00 to $12.50 and gave the company a “buy” rating in a report on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $13.10.

Intuitive Machines Trading Down 2.8 %

The business has a 50 day moving average of $9.76 and a 200-day moving average of $6.43. The stock has a market cap of $1.99 billion, a PE ratio of -4.81 and a beta of 0.93.

Insider Activity

In other news, Director Kamal Seyed Ghaffarian sold 570,705 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $6.08, for a total transaction of $3,469,886.40. Following the sale, the director now owns 3,551,606 shares in the company, valued at $21,593,764.48. This trade represents a 13.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven Vontur sold 10,274 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $5.58, for a total value of $57,328.92. Following the completion of the transaction, the chief financial officer now owns 117,500 shares of the company’s stock, valued at $655,650. The trade was a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,762,371 shares of company stock worth $38,664,183 over the last three months. 73.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Intuitive Machines

Hedge funds have recently added to or reduced their stakes in the business. Wedbush Securities Inc. acquired a new stake in shares of Intuitive Machines in the second quarter worth approximately $35,000. Sender Co & Partners Inc. purchased a new position in Intuitive Machines during the second quarter worth approximately $56,000. Waldron Private Wealth LLC acquired a new position in shares of Intuitive Machines in the 3rd quarter valued at $83,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Intuitive Machines during the 3rd quarter valued at $85,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Intuitive Machines during the 3rd quarter worth $93,000. 72.21% of the stock is owned by institutional investors and hedge funds.

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.