Intuitive Machines (NASDAQ:LUNR) Shares Down 5.4% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price dropped 5.4% during mid-day trading on Thursday . The company traded as low as $17.87 and last traded at $18.79. Approximately 13,412,728 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 18,565,371 shares. The stock had previously closed at $19.87.

Wall Street Analyst Weigh In

LUNR has been the topic of a number of research reports. 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. B. Riley boosted their price objective on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Canaccord Genuity Group boosted 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. Cantor Fitzgerald boosted 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, 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 research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $15.80.

Intuitive Machines Stock Down 4.9 %

The company has a 50-day moving average price of $14.18 and a two-hundred day moving average price of $8.59. The stock has a market capitalization of $2.51 billion, a P/E ratio of -6.08 and a beta of 0.90.

Insider Activity

In related news, CEO Stephen J. Altemus sold 61,432 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $11.00, for a total value of $675,752.00. Following the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at approximately $10,020,109. This represents a 6.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 177,734 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $7.93, for a total value of $1,409,430.62. Following the completion of the sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at approximately $27,713,510.24. This represents a 4.84 % 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 worth $24,475,385 over the last ninety days. Company insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wedbush Securities Inc. purchased a new stake in Intuitive Machines in the second quarter worth approximately $35,000. Sender Co & Partners Inc. purchased a new stake in Intuitive Machines in the second quarter worth approximately $56,000. Waldron Private Wealth LLC purchased a new stake in Intuitive Machines in the third quarter worth approximately $83,000. The Manufacturers Life Insurance Company purchased a new stake in Intuitive Machines in the third quarter worth approximately $85,000. Finally, SG Americas Securities LLC purchased a new stake in Intuitive Machines in the third quarter worth approximately $93,000. Hedge funds and other institutional investors 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.