Intuitive Machines (NASDAQ:LUNR) Shares Down 8.5% - Should You Sell?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) dropped 8.5% during trading on Wednesday . The company traded as low as $18.02 and last traded at $18.18. Approximately 7,574,165 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 17,293,445 shares. The stock had previously closed at $19.87.

Analyst Upgrades and Downgrades

LUNR has been the topic of a number of research reports. Canaccord Genuity Group boosted their price objective on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday. Roth Mkm reissued a "buy" rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday, September 18th. Cantor Fitzgerald boosted their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Benchmark boosted their target price 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. Finally, B. Riley boosted their target price on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $15.80.

Intuitive Machines Stock Down 5.4 %

The stock has a market capitalization of $2.64 billion, a price-to-earnings ratio of -6.39 and a beta of 0.90. The company's fifty day simple moving average is $13.54 and its 200 day simple moving average is $8.35.

Insider Buying and Selling at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 400,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $4,390,001. The trade was a 52.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kamal Seyed Ghaffarian sold 344,893 shares of the business's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $8.02, for a total transaction of $2,766,041.86. Following the completion of the sale, the director now directly owns 3,494,768 shares of the company's stock, valued at approximately $28,028,039.36. The trade was a 8.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,954,713 shares of company stock worth $24,475,385 over the last ninety days. Insiders own 73.68% of the company's stock.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors have recently modified their holdings of LUNR. Wedbush Securities Inc. bought a new stake in shares of Intuitive Machines in the second quarter valued at about $35,000. Sender Co & Partners Inc. bought a new stake in shares of Intuitive Machines in the second quarter valued at about $56,000. Waldron Private Wealth LLC bought a new stake in Intuitive Machines during the third quarter worth about $83,000. The Manufacturers Life Insurance Company bought a new stake in Intuitive Machines during the third quarter worth about $85,000. Finally, SG Americas Securities LLC bought a new stake in Intuitive Machines during the third quarter worth about $93,000. 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.