Intuitive Machines, Inc. (NASDAQ:LUNR) Sees Large Drop in Short Interest

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) was the recipient of a large drop in short interest during the month of November. As of November 30th, there was short interest totalling 14,930,000 shares, a drop of 25.2% from the November 15th total of 19,970,000 shares. Approximately 21.1% of the company's shares are short sold. Based on an average daily trading volume, of 19,790,000 shares, the short-interest ratio is currently 0.8 days.

Insiders Place Their Bets

In related news, Director Kamal Seyed Ghaffarian sold 1,007,928 shares of Intuitive Machines stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $8.31, for a total value of $8,375,881.68. Following the sale, the director now directly owns 3,494,768 shares in the company, valued at $29,041,522.08. This trade represents a 22.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Stephen J. Altemus sold 138,568 shares of Intuitive Machines stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $11.10, for a total value of $1,538,104.80. Following the completion of the transaction, the chief executive officer now owns 910,919 shares in the company, valued at $10,111,200.90. The trade was a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,921,440 shares of company stock valued at $36,971,041. Insiders own 73.68% of the company's stock.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors have recently added to or reduced their stakes in LUNR. State Street Corp lifted its holdings in Intuitive Machines by 1.3% in 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 during the period. Waldron Private Wealth LLC purchased a new stake in Intuitive Machines during the 3rd quarter valued at $83,000. Wedbush Securities Inc. bought a new stake in shares of Intuitive Machines during the 2nd quarter valued at about $35,000. The Manufacturers Life Insurance Company purchased a new stake in Intuitive Machines during the third quarter valued at approximately $85,000. Finally, SG Americas Securities LLC purchased a new position in Intuitive Machines during the third quarter valued at $93,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LUNR has been the subject of several recent analyst reports. Roth Mkm reaffirmed a "buy" rating and set a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. B. Riley raised their price objective on Intuitive Machines from $8.00 to $12.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Cantor Fitzgerald lifted their price target on Intuitive Machines from $10.00 to $15.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Canaccord Genuity Group decreased their target price on shares of Intuitive Machines from $19.00 to $17.50 and set a "buy" rating for the company in a research report on Friday, December 6th. Finally, Benchmark boosted their price target on Intuitive Machines from $10.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $14.10.

Intuitive Machines Trading Up 0.0 %

Shares of LUNR traded up $0.01 during trading hours on Friday, reaching $11.69. 9,340,835 shares of the stock traded hands, compared to its average volume of 10,195,159. Intuitive Machines has a 52 week low of $2.09 and a 52 week high of $17.14. The stock has a fifty day simple moving average of $10.44 and a 200 day simple moving average of $6.80. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -3.97 and a beta of 0.93.

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.