Intuitive Machines (NASDAQ:LUNR) Shares Down 7.1% - Here's What Happened

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) traded down 7.1% during trading on Monday . The stock traded as low as $15.86 and last traded at $16.60. 5,539,967 shares changed hands during trading, a decline of 64% from the average session volume of 15,335,358 shares. The stock had previously closed at $17.87.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Cantor Fitzgerald upped their price objective 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 lifted their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, November 15th. 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 lifted 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. Finally, Canaccord Genuity Group increased their price objective on Intuitive Machines from $17.50 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $15.80.

Intuitive Machines Stock Performance

The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -5.75 and a beta of 0.90. The firm has a 50-day moving average price of $14.36 and a two-hundred day moving average price of $8.76.

Insider Buying and Selling at Intuitive Machines

In related news, CEO Stephen J. Altemus sold 61,432 shares of Intuitive Machines stock in a transaction on Monday, November 11th. The shares were sold at an average price of $11.00, for a total value of $675,752.00. Following the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at $10,020,109. This trade represents a 6.32 % 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 the firm's stock in a transaction on 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 completion of the sale, the senior vice president now owns 362,810 shares of the company's stock, valued at $4,390,001. This trade represents a 52.44 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,954,713 shares of company stock worth $24,475,385. 73.68% of the stock is owned by insiders.

Institutional Trading of Intuitive Machines

Several hedge funds have recently modified their holdings of the business. Tealwood Asset Management Inc. increased its position in shares of Intuitive Machines by 4.5% in the fourth quarter. Tealwood Asset Management Inc. now owns 20,900 shares of the company's stock valued at $380,000 after buying an additional 900 shares in the last quarter. State Street Corp raised its position in Intuitive Machines by 1.3% during the third quarter. State Street Corp now owns 576,051 shares of the company's stock worth $4,637,000 after acquiring an additional 7,538 shares during the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of Intuitive Machines in the third quarter valued at about $83,000. Wedbush Securities Inc. acquired a new stake in shares of Intuitive Machines in the second quarter valued at approximately $35,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Intuitive Machines during the 3rd quarter worth approximately $85,000. 72.21% of the stock is owned by institutional investors and hedge funds.

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.