Intuitive Machines (NASDAQ:LUNR) Shares Down 4.8% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares were down 4.8% during mid-day trading on Tuesday . The company traded as low as $12.55 and last traded at $12.82. Approximately 5,213,711 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 13,561,803 shares. The stock had previously closed at $13.46.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LUNR. Deutsche Bank Aktiengesellschaft began coverage on shares of Intuitive Machines in a report on Tuesday, February 25th. They set a “hold” rating and a $18.00 price objective on the stock. Bank of America started coverage on shares of Intuitive Machines in a research report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price target for the company. Benchmark upped their price target on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Canaccord Genuity Group lifted their price objective on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Cantor Fitzgerald boosted their target price on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Intuitive Machines presently has an average rating of “Moderate Buy” and a consensus price target of $16.14.

Intuitive Machines Trading Up 0.1 %

The firm has a market capitalization of $1.89 billion, a PE ratio of -4.58 and a beta of 0.92. The stock’s 50 day moving average price is $19.13 and its two-hundred day moving average price is $12.56.

Insiders Place Their Bets

In related news, insider Steven Vontur sold 4,528 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total transaction of $88,748.80. Following the sale, the insider now owns 104,272 shares of the company’s stock, valued at $2,043,731.20. This trade represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the sale, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 393,659 shares of company stock valued at $7,262,364. Corporate insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors have recently added to or reduced their stakes in the business. Tealwood Asset Management Inc. boosted its stake in Intuitive Machines by 4.5% in the 4th quarter. Tealwood Asset Management Inc. now owns 20,900 shares of the company’s stock worth $380,000 after buying an additional 900 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Intuitive Machines by 8.3% in the 4th quarter. Invesco Ltd. now owns 13,449 shares of the company’s stock valued at $244,000 after purchasing an additional 1,026 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Intuitive Machines by 10.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,187 shares of the company’s stock valued at $312,000 after buying an additional 1,566 shares during the period. Quarry LP acquired a new stake in shares of Intuitive Machines during the 4th quarter worth $44,000. Finally, Bank of New York Mellon Corp raised its position in shares of Intuitive Machines by 3.7% in the 4th quarter. Bank of New York Mellon Corp now owns 70,740 shares of the company’s stock worth $1,285,000 after buying an additional 2,499 shares during the period. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.