Intuitive Machines (NASDAQ:LUNR) Shares Down 5.4% - Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares were down 5.4% on Thursday . The stock traded as low as $17.87 and last traded at $18.79. Approximately 13,412,728 shares changed hands during trading, a decline of 28% from the average daily volume of 18,565,371 shares. The stock had previously closed at $19.87.

Analyst Upgrades and Downgrades

LUNR has been the topic of a number of research reports. Cantor Fitzgerald increased 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 lifted their target price on Intuitive Machines from $10.00 to $16.00 and gave the company a "buy" rating in a report on Friday, November 15th. Canaccord Genuity Group boosted their target price on Intuitive Machines from $17.50 to $26.00 and gave the stock a "buy" rating in a research note on Wednesday. Roth Mkm reaffirmed a "buy" rating and issued a $10.00 price target on shares of Intuitive Machines in a research report on Wednesday, September 18th. Finally, B. Riley boosted their price objective on Intuitive Machines from $8.00 to $12.00 and gave the stock a "buy" rating in a research report on Thursday, September 19th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Intuitive Machines has a consensus rating of "Buy" and a consensus target price of $15.80.

Intuitive Machines Stock Down 5.4 %

The stock has a market cap of $2.64 billion, a PE ratio of -6.39 and a beta of 0.90. The firm has a fifty day moving average of $13.98 and a 200 day moving average of $8.50.

Insider Activity

In other Intuitive Machines news, SVP Timothy Price Crain II sold 400,000 shares of the firm's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the transaction, the senior vice president now owns 362,810 shares of the company's stock, valued at approximately $4,390,001. This trade represents a 52.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the sale, the director now directly owns 3,494,768 shares of the company's stock, valued at $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,954,713 shares of company stock worth $24,475,385. 73.68% of the stock is currently owned by insiders.

Institutional Trading of Intuitive Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wedbush Securities Inc. acquired a new position in shares of Intuitive Machines in the second quarter valued at approximately $35,000. Sender Co & Partners Inc. acquired a new position in Intuitive Machines in the 2nd quarter valued at $56,000. Waldron Private Wealth LLC purchased a new position in Intuitive Machines during the 3rd quarter worth $83,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Intuitive Machines in the 3rd quarter worth $85,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Intuitive Machines in the third quarter valued at about $93,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

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.