Intuitive Machines (NASDAQ:LUNR) Shares Down 2.9% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares dropped 2.9% during mid-day trading on Monday . The stock traded as low as $18.50 and last traded at $18.51. Approximately 9,838,860 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 15,072,917 shares. The stock had previously closed at $19.06.

Analyst Ratings Changes

Several analysts recently commented on LUNR shares. Benchmark increased their target price 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. Canaccord Genuity Group raised their price objective on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Finally, Cantor Fitzgerald boosted their target price on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Intuitive Machines has a consensus rating of “Buy” and an average price target of $15.80.

Intuitive Machines Trading Up 23.9 %

The firm’s 50-day simple moving average is $15.28 and its two-hundred day simple moving average is $9.28. The stock has a market capitalization of $3.22 billion, a PE ratio of -7.80 and a beta of 0.90.

Insider Activity

In other Intuitive Machines news, SVP Timothy Price Crain II sold 400,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $4,390,001. This represents a 52.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 177,734 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $7.93, for a total transaction of $1,409,430.62. Following the transaction, the director now owns 3,494,768 shares in the company, valued at approximately $27,713,510.24. This represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,609,820 shares of company stock worth $21,709,343. 73.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of LUNR. Sender Co & Partners Inc. bought a new stake in shares of Intuitive Machines during the 2nd quarter worth about $56,000. Waldron Private Wealth LLC bought a new stake in Intuitive Machines during the third quarter worth approximately $83,000. The Manufacturers Life Insurance Company acquired a new position in Intuitive Machines during the third quarter valued at approximately $85,000. SG Americas Securities LLC acquired a new stake in shares of Intuitive Machines in the third quarter worth $93,000. Finally, Creative Planning acquired a new stake in shares of Intuitive Machines in the third quarter worth $105,000. Institutional investors own 72.21% of the company’s stock.

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.