Intuitive Machines (NASDAQ:LUNR) Stock Price Down 0.7% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) fell 0.7% during trading on Monday . The stock traded as low as $21.20 and last traded at $21.73. 6,856,777 shares changed hands during trading, a decline of 63% from the average session volume of 18,606,816 shares. The stock had previously closed at $21.89.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Cantor Fitzgerald raised their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Roth Mkm restated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday, September 18th. Canaccord Genuity Group boosted their price target on Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a report on Wednesday. B. Riley raised their price objective on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Benchmark boosted their price objective on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $15.80.

Intuitive Machines Stock Performance

The firm has a market capitalization of $2.64 billion, a PE ratio of -6.39 and a beta of 0.90. The company has a fifty day moving average price of $13.54 and a 200-day moving average price of $8.35.

Insider Activity at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 400,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total value of $4,840,000.00. Following the completion of the sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at $4,390,001. This trade represents a 52.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.35, for a total value of $6,935,804.55. Following the sale, the director now owns 3,494,768 shares in the company, valued at $64,128,992.80. The trade was a 9.76 % decrease in their position. 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 over the last 90 days. 73.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of large investors have recently made changes to their positions in LUNR. Wedbush Securities Inc. purchased a new position in shares of Intuitive Machines during the second quarter valued at approximately $35,000. Sender Co & Partners Inc. bought a new position in Intuitive Machines in the 2nd quarter valued at $56,000. Waldron Private Wealth LLC purchased a new stake in Intuitive Machines in the third quarter worth $83,000. The Manufacturers Life Insurance Company purchased a new stake in Intuitive Machines in the third quarter worth $85,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Intuitive Machines during the third quarter valued at $93,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

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.