Intuitive Machines (NASDAQ:LUNR) Stock Price Down 1.3% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) was down 1.3% on Wednesday . The stock traded as low as $21.86 and last traded at $22.65. Approximately 6,826,455 shares were traded during trading, a decline of 54% from the average daily volume of 14,763,761 shares. The stock had previously closed at $22.94.

Analyst Ratings Changes

LUNR has been the topic of a number of research analyst reports. Cantor Fitzgerald raised their target price on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Canaccord Genuity Group raised their price objective on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Benchmark upped their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Intuitive Machines has a consensus rating of “Buy” and an average target price of $15.80.

Intuitive Machines Stock Performance

The company has a market cap of $3.24 billion, a P/E ratio of -7.85 and a beta of 0.90. The stock has a 50-day simple moving average of $15.98 and a 200 day simple moving average of $9.60.

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 transaction of $675,752.00. Following the completion of the transaction, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at approximately $10,020,109. This trade represents a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kamal Seyed Ghaffarian sold 177,734 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $7.93, for a total transaction of $1,409,430.62. Following the sale, the director now owns 3,494,768 shares of the company’s stock, valued at $27,713,510.24. This trade represents a 4.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,609,820 shares of company stock valued at $21,709,343 over the last ninety days. 73.68% of the stock is owned by company insiders.

Institutional Trading of Intuitive Machines

Several large investors have recently added to or reduced their stakes in the company. Sender Co & Partners Inc. acquired a new position in shares of Intuitive Machines in the 2nd quarter worth approximately $56,000. Waldron Private Wealth LLC acquired a new position in Intuitive Machines in the third quarter worth $83,000. The Manufacturers Life Insurance Company bought a new stake in shares of Intuitive Machines during the third quarter worth $85,000. SG Americas Securities LLC acquired a new stake in shares of Intuitive Machines in the third quarter valued at $93,000. Finally, Creative Planning bought a new position in shares of Intuitive Machines in the third quarter valued at about $105,000. 72.21% of the stock is owned by 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.