Intuitive Machines (NASDAQ:LUNR) Trading Down 8.5% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price traded down 8.5% on Wednesday . The company traded as low as $18.02 and last traded at $18.18. 7,574,165 shares traded hands during trading, a decline of 56% from the average session volume of 17,293,445 shares. The stock had previously closed at $19.87.

Analyst Upgrades and Downgrades

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

Intuitive Machines Stock Down 5.0 %

The stock has a fifty day moving average of $13.54 and a two-hundred day moving average of $8.35. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -6.42 and a beta of 0.90.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Timothy Price Crain II sold 400,000 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the completion of the transaction, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at approximately $4,390,001. This trade represents a 52.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,954,713 shares of company stock valued at $24,475,385 in the last ninety days. 73.68% of the stock is currently owned by company insiders.

Institutional Trading of Intuitive Machines

Large investors have recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of Intuitive Machines by 1.3% in the third quarter. State Street Corp now owns 576,051 shares of the company’s stock valued at $4,637,000 after purchasing an additional 7,538 shares in the last quarter. Waldron Private Wealth LLC acquired a new stake in Intuitive Machines during the 3rd quarter valued at $83,000. Wedbush Securities Inc. purchased a new position in Intuitive Machines during the second quarter worth $35,000. The Manufacturers Life Insurance Company acquired a new position in shares of Intuitive Machines in the third quarter worth $85,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Intuitive Machines during the third quarter valued at $93,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

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.