Intuitive Machines (NASDAQ:LUNR) Shares Down 2.9% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares were down 2.9% on Monday . The stock traded as low as $18.50 and last traded at $18.51. Approximately 9,838,860 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 15,072,917 shares. The stock had previously closed at $19.06.

Analyst Upgrades and Downgrades

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

Intuitive Machines Stock Up 23.9 %

The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -7.80 and a beta of 0.90. The stock has a 50 day simple moving average of $15.28 and a 200 day simple moving average of $9.28.

Insider Activity at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the completion of the transaction, the director now directly owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Timothy Price Crain II sold 400,000 shares of the firm’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 completion of the sale, the senior vice president now owns 362,810 shares in the company, valued at approximately $4,390,001. This represents a 52.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,609,820 shares of company stock worth $21,709,343 in the last 90 days. 73.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its position in Intuitive Machines by 31.2% in the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after buying an additional 222,136 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Intuitive Machines in the second quarter valued at approximately $536,000. Bank of New York Mellon Corp acquired a new position in shares of Intuitive Machines during the second quarter valued at approximately $272,000. Stifel Financial Corp bought a new stake in Intuitive Machines during the third quarter worth approximately $525,000. Finally, FORA Capital LLC bought a new position in Intuitive Machines during the 3rd quarter valued at $458,000. Institutional investors own 72.21% of the company’s stock.

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.