Intuitive Machines (NASDAQ:LUNR) Trading Down 0.6% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) was down 0.6% during mid-day trading on Thursday . The stock traded as low as $21.58 and last traded at $22.33. Approximately 5,034,128 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 14,486,384 shares. The stock had previously closed at $22.45.

Wall Street Analyst Weigh In

LUNR has been the topic of several research analyst reports. Canaccord Genuity Group boosted their target price on Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Benchmark raised their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Cantor Fitzgerald lifted their price target on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $15.80.

Intuitive Machines Price Performance

The stock has a market capitalization of $3.08 billion, a P/E ratio of -7.39 and a beta of 0.90. The business’s 50 day moving average price is $15.74 and its 200 day moving average price is $9.51.

Insider Buying and Selling at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 177,734 shares of Intuitive Machines stock in a transaction on Monday, November 4th. The stock was sold at an average price of $7.93, for a total transaction of $1,409,430.62. Following the transaction, the director now directly owns 3,494,768 shares in the company, valued at approximately $27,713,510.24. The trade was a 4.84 % 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, SVP Timothy Price Crain II sold 400,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total value of $4,840,000.00. Following the transaction, the senior vice president now owns 362,810 shares of the company’s stock, valued at approximately $4,390,001. This trade represents a 52.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,609,820 shares of company stock worth $21,709,343. Insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its position in Intuitive Machines by 31.2% in the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after acquiring an additional 222,136 shares in the last quarter. State Street Corp grew its position in shares of Intuitive Machines by 1.3% during the 3rd quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after buying an additional 7,538 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Intuitive Machines in the 2nd quarter worth approximately $536,000. Penserra Capital Management LLC lifted its holdings in Intuitive Machines by 16.5% during the third quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock worth $1,190,000 after buying an additional 20,916 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Intuitive Machines by 44.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock valued at $836,000 after purchasing an additional 32,015 shares in the last quarter. 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.