Intuitive Machines (NASDAQ:LUNR) Shares Down 0.7% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price traded down 0.7% on Monday . The company traded as low as $21.20 and last traded at $21.73. 6,856,777 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 18,606,816 shares. The stock had previously closed at $21.89.

Wall Street Analyst Weigh In

LUNR has been the topic of several research analyst reports. Roth Mkm restated a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. Benchmark boosted their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Canaccord Genuity Group decreased their target price on shares of Intuitive Machines from $19.00 to $17.50 and set a “buy” rating on the stock in a research report on Friday, December 6th. Cantor Fitzgerald boosted their target price 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. Finally, B. Riley boosted their target price on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $14.10.

Intuitive Machines Trading Down 0.6 %

The firm has a 50 day moving average price of $13.04 and a 200-day moving average price of $8.11. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of -7.40 and a beta of 0.90.

Insider Activity at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 138,568 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $11.10, for a total transaction of $1,538,104.80. Following the completion of the transaction, the chief executive officer now owns 910,919 shares of the company’s stock, valued at $10,111,200.90. This represents a 13.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kamal Seyed Ghaffarian sold 177,734 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $7.93, for a total value of $1,409,430.62. Following the sale, the director now owns 3,494,768 shares of the company’s stock, valued at $27,713,510.24. The trade was a 4.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,954,713 shares of company stock valued at $24,475,385. 73.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp acquired a new position in shares of Intuitive Machines in the 2nd quarter valued at approximately $272,000. Rhumbline Advisers bought a new position in shares of Intuitive Machines in the second quarter worth $119,000. Wedbush Securities Inc. bought a new position in shares of Intuitive Machines in the second quarter worth $35,000. XTX Topco Ltd bought a new position in shares of Intuitive Machines in the second quarter worth $164,000. Finally, Squarepoint Ops LLC bought a new position in Intuitive Machines during the second quarter valued at about $536,000. Hedge funds and other 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.