Intuitive Machines (NASDAQ:LUNR) Shares Down 1.5% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price was down 1.5% on Tuesday . The stock traded as low as $7.50 and last traded at $7.70. Approximately 3,068,842 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 8,663,293 shares. The stock had previously closed at $7.82.

Analysts Set New Price Targets

A number of research firms have issued reports on LUNR. Roth Mkm reissued a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Intuitive Machines in a report on Monday, September 30th. Benchmark restated a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. Finally, B. Riley increased their price target on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $10.60.

Intuitive Machines Trading Up 3.3 %

The company has a fifty day simple moving average of $5.95 and a 200-day simple moving average of $5.14. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 18.78 and a beta of 0.34.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $41.41 million for the quarter, compared to analyst estimates of $43.00 million. As a group, analysts anticipate that Intuitive Machines, Inc. will post 0.47 earnings per share for the current year.

Insider Activity

In other news, Director Kamal Seyed Ghaffarian sold 125,991 shares of Intuitive Machines stock in a transaction on Monday, October 7th. The stock was sold at an average price of $7.43, for a total transaction of $936,113.13. Following the transaction, the director now owns 3,494,768 shares in the company, valued at approximately $25,966,126.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Kamal Seyed Ghaffarian sold 125,991 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $7.43, for a total value of $936,113.13. Following the completion of the sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at $25,966,126.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Timothy Price Crain II sold 125,577 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $4.02, for a total transaction of $504,819.54. Following the sale, the senior vice president now owns 362,810 shares of the company’s stock, valued at approximately $1,458,496.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,770,728 shares of company stock worth $27,661,329 over the last quarter. Corporate insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds have recently modified their holdings of the stock. Wedbush Securities Inc. purchased a new position in Intuitive Machines in the second quarter valued at about $35,000. Baltimore Washington Financial Advisors Inc. acquired a new stake in shares of Intuitive Machines during the 1st quarter valued at about $67,000. SG Americas Securities LLC acquired a new stake in shares of Intuitive Machines during the 3rd quarter valued at about $93,000. Creative Planning bought a new stake in shares of Intuitive Machines in the 3rd quarter valued at approximately $105,000. Finally, Sender Co & Partners Inc. acquired a new position in Intuitive Machines in the second quarter worth approximately $56,000. 72.21% of the stock is owned by institutional investors and hedge funds.

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.