Intuitive Machines (NASDAQ:LUNR) Shares Down 5% – What’s Next?

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on LUNR. Benchmark boosted their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Cantor Fitzgerald increased their target price on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Roth Mkm reissued a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. Canaccord Genuity Group dropped their price target on Intuitive Machines from $19.00 to $17.50 and set a “buy” rating on the stock in a research report on Friday, December 6th. Finally, B. Riley boosted their target price on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $14.10.

Intuitive Machines Stock Performance

The firm has a fifty day simple moving average of $12.53 and a 200 day simple moving average of $7.84. The company has a market capitalization of $2.55 billion, a PE ratio of -6.18 and a beta of 0.93.

Insider Transactions at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 400,000 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 362,810 shares in the company, valued at $4,390,001. The trade was a 52.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $15.04, for a total value of $5,684,713.92. Following the transaction, the director now owns 3,494,768 shares in the company, valued at approximately $52,561,310.72. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,702,731 shares of company stock valued at $18,475,694 in the last quarter. 73.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

Several large investors have recently bought and sold shares of LUNR. Geode Capital Management LLC boosted its stake in shares of Intuitive Machines by 31.2% during the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after buying an additional 222,136 shares during the period. State Street Corp raised its position in shares of Intuitive Machines by 1.3% during the 3rd quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after purchasing an additional 7,538 shares during the last quarter. Squarepoint Ops LLC acquired a new position in shares of Intuitive Machines during the 2nd quarter worth approximately $536,000. Penserra Capital Management LLC raised its holdings in Intuitive Machines by 16.5% in the 3rd quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock valued at $1,190,000 after acquiring an additional 20,916 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Intuitive Machines by 44.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock valued at $836,000 after acquiring an additional 32,015 shares during the last quarter. Hedge funds and other 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.