Intuitive Machines (NASDAQ:LUNR) Trading Down 5% - What's Next?

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares were down 5% on Tuesday . The company traded as low as $17.81 and last traded at $17.99. Approximately 7,233,575 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 10,508,487 shares. The stock had previously closed at $18.94.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LUNR shares. Canaccord Genuity Group dropped their price objective on Intuitive Machines from $19.00 to $17.50 and set a "buy" rating for the company in a report on Friday, December 6th. B. Riley upped 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. Benchmark raised their price objective on Intuitive Machines from $10.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Roth Mkm reiterated a "buy" rating and set a $10.00 target price on shares of Intuitive Machines in a report on Wednesday, September 18th. Finally, Cantor Fitzgerald raised their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an "overweight" rating in a report on Friday, November 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $14.10.

Intuitive Machines Price Performance

The company has a market cap of $2.55 billion, a PE ratio of -6.18 and a beta of 0.93. The company has a 50-day moving average price of $12.33 and a two-hundred day moving average price of $7.77.

Insiders Place Their Bets

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $15.04, for a total value of $5,684,713.92. Following the completion of the transaction, the director now directly owns 3,494,768 shares of the company's stock, valued at $52,561,310.72. This represents a 9.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Timothy Price Crain II sold 400,000 shares of Intuitive Machines stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total value of $4,840,000.00. Following the sale, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $4,390,001. The trade was a 52.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,702,731 shares of company stock worth $18,475,694 in the last 90 days. 73.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of institutional investors have recently made changes to their positions in LUNR. State Street Corp increased its stake in shares of Intuitive Machines by 1.3% in the third 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 last quarter. Waldron Private Wealth LLC bought a new stake in shares of Intuitive Machines in the 3rd quarter worth about $83,000. Wedbush Securities Inc. acquired a new stake in shares of Intuitive Machines in the 2nd quarter valued at about $35,000. The Manufacturers Life Insurance Company bought a new position in shares of Intuitive Machines during the third quarter worth about $85,000. Finally, SG Americas Securities LLC acquired a new position in Intuitive Machines in the third quarter worth about $93,000. 72.21% of the stock is owned by institutional investors and hedge funds.

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.