Intuitive Machines (NASDAQ:LUNR) Stock Price Down 6.7% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price traded down 6.7% on Monday . The company traded as low as $11.56 and last traded at $11.59. 6,013,347 shares traded hands 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.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. B. Riley increased their price target on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Roth Mkm reiterated a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. Benchmark upped their price target 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. Canaccord Genuity Group boosted their price objective on shares of Intuitive Machines from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Cantor Fitzgerald raised their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Intuitive Machines has an average rating of “Buy” and a consensus price target of $13.10.

Intuitive Machines Stock Performance

The company has a market capitalization of $1.61 billion, a P/E ratio of -4.27 and a beta of 0.35. The company’s fifty day simple moving average is $8.28 and its 200-day simple moving average is $5.81.

Insider Activity

In other Intuitive Machines news, SVP Timothy Price Crain II sold 197,637 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $6.05, for a total transaction of $1,195,703.85. Following the sale, the senior vice president now owns 362,810 shares of the company’s stock, valued at approximately $2,195,000.50. This trade represents a 35.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven Vontur sold 10,274 shares of Intuitive Machines stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $5.58, for a total value of $57,328.92. Following the completion of the transaction, the chief financial officer now owns 117,500 shares in the company, valued at $655,650. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,763,571 shares of company stock worth $38,671,383. Corporate insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Intuitive Machines by 250.0% during the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after acquiring an additional 429,531 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Intuitive Machines by 31.2% in the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after purchasing an additional 222,136 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Intuitive Machines during the 2nd quarter worth $536,000. Bank of New York Mellon Corp acquired a new position in Intuitive Machines during the 2nd quarter valued at about $272,000. Finally, Stifel Financial Corp purchased a new stake in Intuitive Machines in the third quarter valued at about $525,000. 72.21% of the stock is currently owned by 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.