Intuitive Machines (NASDAQ:LUNR) Stock Price Down 7.2% – Time to Sell?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) were down 7.2% during trading on Friday . The stock traded as low as $15.73 and last traded at $15.5010. Approximately 1,542,683 shares traded hands during trading, a decline of 84% from the average daily volume of 9,444,190 shares. The stock had previously closed at $16.71.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Intuitive Machines in a report on Wednesday, December 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a report on Wednesday, October 8th. Canaccord Genuity Group dropped their target price on Intuitive Machines from $18.50 to $15.50 and set a “buy” rating for the company in a report on Friday, November 7th. B. Riley lifted their target price on shares of Intuitive Machines from $14.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Stifel Nicolaus started coverage on shares of Intuitive Machines in a research report on Monday, November 3rd. They issued a “buy” rating and a $18.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Intuitive Machines has a consensus rating of “Moderate Buy” and a consensus price target of $16.25.

Intuitive Machines Trading Down 7.1%

The stock has a market cap of $2.80 billion, a PE ratio of -6.29 and a beta of 1.44. The business has a fifty day simple moving average of $11.16 and a two-hundred day simple moving average of $10.71.

Insiders Place Their Bets

In other news, SVP Timothy Price Crain II sold 200,000 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $16.04, for a total value of $3,208,000.00. Following the sale, the senior vice president directly owned 298,435 shares of the company’s stock, valued at $4,786,897.40. This represents a 40.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Blitzer purchased 141,080 shares of the stock in a transaction that occurred on Wednesday, November 12th. The shares were acquired at an average cost of $9.27 per share, with a total value of $1,307,811.60. Following the completion of the transaction, the director owned 1,831,248 shares in the company, valued at $16,975,668.96. This trade represents a 8.35% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders sold 2,350,000 shares of company stock worth $36,849,531. 39.75% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Golden State Wealth Management LLC boosted its position in shares of Intuitive Machines by 180.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company’s stock worth $30,000 after purchasing an additional 1,800 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Intuitive Machines by 35.6% in the second quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company’s stock worth $47,000 after acquiring an additional 1,127 shares in the last quarter. Quarry LP increased its holdings in shares of Intuitive Machines by 151.4% during the third quarter. Quarry LP now owns 6,457 shares of the company’s stock valued at $68,000 after acquiring an additional 3,889 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Intuitive Machines during the third quarter valued at $94,000. Finally, Freedom Investment Management Inc. boosted its stake in Intuitive Machines by 30.4% in the 1st quarter. Freedom Investment Management Inc. now owns 14,061 shares of the company’s stock worth $105,000 after purchasing an additional 3,281 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.