Intuitive Machines (NASDAQ:LUNR) Trading Down 6.7% – Should You Sell?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) traded down 6.7% during trading on Monday . The company traded as low as $11.56 and last traded at $11.59. 6,013,347 shares were traded during mid-day trading, a decline of 36% from the average session volume of 9,456,761 shares. The stock had previously closed at $12.42.

Wall Street Analysts Forecast Growth

LUNR has been the topic of a number of research analyst reports. B. Riley increased their price objective on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Cantor Fitzgerald lifted their price objective on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday. Canaccord Genuity Group raised their price objective on shares of Intuitive Machines from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Friday. Benchmark boosted their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday. Finally, Roth Mkm reiterated a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $13.10.

Intuitive Machines Price Performance

The firm has a 50-day moving average of $8.02 and a 200-day moving average of $5.72. The stock has a market cap of $1.56 billion, a PE ratio of -3.88 and a beta of 0.35.

Insider Activity

In other Intuitive Machines news, Director Michael Blitzer sold 662,673 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $8.19, for a total transaction of $5,427,291.87. Following the completion of the transaction, the director now owns 1,062,865 shares in the company, valued at $8,704,864.35. This trade represents a 38.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kamal Seyed Ghaffarian sold 1,007,928 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $8.31, for a total transaction of $8,375,881.68. Following the completion of the sale, the director now owns 3,494,768 shares in the company, valued at approximately $29,041,522.08. This trade represents a 22.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,763,571 shares of company stock worth $38,671,383 over the last quarter. Insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Intuitive Machines by 250.0% in the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after purchasing an additional 429,531 shares during the period. Sanders Morris Harris LLC boosted its position in Intuitive Machines by 264.9% in the 2nd quarter. Sanders Morris Harris LLC now owns 69,700 shares of the company’s stock valued at $230,000 after buying an additional 50,600 shares during the period. Bank of New York Mellon Corp bought a new position in Intuitive Machines in the 2nd quarter worth about $272,000. Rhumbline Advisers purchased a new position in shares of Intuitive Machines during the second quarter worth approximately $119,000. Finally, Wedbush Securities Inc. purchased a new stake in shares of Intuitive Machines in the second quarter valued at approximately $35,000. Institutional investors own 72.21% of the company’s stock.

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.