Intuitive Machines (NASDAQ:LUNR) Stock Price Down 9% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) dropped 9% during mid-day trading on Friday . The stock traded as low as $18.02 and last traded at $17.94. Approximately 7,569,237 shares were traded during trading, a decline of 44% from the average daily volume of 13,527,283 shares. The stock had previously closed at $19.72.

Analyst Ratings Changes

A number of equities research analysts have weighed in on LUNR shares. Benchmark upped their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Cantor Fitzgerald upped 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. Canaccord Genuity Group upped their price objective on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Bank of America assumed coverage on shares of Intuitive Machines in a research note on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 target price on the stock. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuitive Machines has an average rating of “Moderate Buy” and an average target price of $15.83.

Intuitive Machines Price Performance

The firm’s 50 day moving average price is $18.92 and its 200-day moving average price is $12.01. The stock has a market cap of $2.54 billion, a P/E ratio of -6.15 and a beta of 0.92.

Insider Activity at Intuitive Machines

In related news, insider Steven Vontur sold 4,528 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the transaction, the insider now owns 104,272 shares in the company, valued at $2,043,731.20. This represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction that occurred on 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 sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 771,632 shares of company stock worth $12,947,078 over the last quarter. Company insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LUNR. Quarry LP purchased a new stake in Intuitive Machines during the fourth quarter valued at approximately $44,000. Jones Financial Companies Lllp increased its holdings in Intuitive Machines by 751.3% during the fourth quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock valued at $70,000 after buying an additional 3,381 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Intuitive Machines in the third quarter worth $85,000. Steward Partners Investment Advisory LLC increased its stake in shares of Intuitive Machines by 201.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock worth $90,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Ancora Advisors LLC purchased a new stake in shares of Intuitive Machines in the fourth quarter worth $91,000. 72.21% of the stock is owned by hedge funds and other 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.