Intuitive Machines (NASDAQ:LUNR) Shares Down 10.3% – Time to Sell?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) traded down 10.3% during mid-day trading on Wednesday . The stock traded as low as $17.08 and last traded at $16.71. 2,205,858 shares changed hands during trading, a decline of 81% from the average session volume of 11,555,171 shares. The stock had previously closed at $18.62.

Analyst Ratings Changes

LUNR has been the subject of a number of recent analyst reports. KeyCorp raised their price target on shares of Intuitive Machines from $20.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Zacks Research upgraded shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. Cantor Fitzgerald reissued an “overweight” rating on shares of Intuitive Machines in a research report on Wednesday, December 3rd. B. Riley Financial upped their target price on shares of Intuitive Machines from $14.00 to $20.00 and gave the company a “buy” rating in a research note on Monday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $18.00 price target on Intuitive Machines and gave the stock a “buy” rating in a research note on Friday, October 17th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $17.27.

Intuitive Machines Stock Down 10.2%

The company has a market capitalization of $3.01 billion, a P/E ratio of -6.77 and a beta of 1.37. The business has a 50 day simple moving average of $16.68 and a 200-day simple moving average of $12.49.

Insider Activity

In other Intuitive Machines news, CEO Stephen J. Altemus sold 58,828 shares of the business’s stock in a transaction dated Friday, January 16th. The shares were sold at an average price of $20.03, for a total transaction of $1,178,324.84. Following the completion of the transaction, the chief executive officer directly owned 1,026,402 shares of the company’s stock, valued at $20,558,832.06. The trade was a 5.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Timothy Price Crain II sold 24,155 shares of the company’s stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $20.04, for a total transaction of $484,066.20. Following the completion of the transaction, the senior vice president owned 298,435 shares of the company’s stock, valued at approximately $5,980,637.40. This trade represents a 7.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 3,550,000 shares of company stock worth $59,924,826. 39.75% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LUNR. International Assets Investment Management LLC acquired a new stake in Intuitive Machines in the fourth quarter worth about $28,000. Golden State Wealth Management LLC raised its stake 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 buying an additional 1,800 shares in the last quarter. GAMMA Investing LLC raised its position in Intuitive Machines by 41.5% in the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after acquiring an additional 781 shares in the last quarter. Larson Financial Group LLC grew its stake in shares of Intuitive Machines by 63.2% in the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after purchasing an additional 1,016 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in Intuitive Machines by 35.6% during the second quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company’s stock worth $47,000 after buying an additional 1,127 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

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.