Intuitive Machines (NASDAQ:LUNR) Stock Price Down 6.7% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price traded down 6.7% on Monday . The stock traded as low as $11.56 and last traded at $11.59. 6,013,347 shares changed hands during trading, a decline of 36% from the average session volume of 9,456,761 shares. The stock had previously closed at $12.42.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Roth Mkm restated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday, September 18th. Canaccord Genuity Group raised their price objective on Intuitive Machines from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Friday, November 15th. Benchmark boosted their price objective on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. B. Riley lifted their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Cantor Fitzgerald upped their price target 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. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $13.10.

Intuitive Machines Stock Up 7.5 %

The company has a market capitalization of $1.61 billion, a PE ratio of -4.27 and a beta of 0.35. The company’s 50 day moving average is $8.28 and its two-hundred day moving average is $5.81.

Insider Buying and Selling

In related news, CEO Stephen J. Altemus sold 138,568 shares of the business’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $11.10, for a total value of $1,538,104.80. Following the sale, the chief executive officer now owns 910,919 shares in the company, valued at approximately $10,111,200.90. The trade was a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Timothy Price Crain II sold 400,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the sale, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $4,390,001. The trade was a 52.44 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,763,571 shares of company stock worth $38,671,383. Corporate insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Intuitive Machines by 250.0% in the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after acquiring an additional 429,531 shares in the last quarter. Sanders Morris Harris LLC boosted its holdings in shares of Intuitive Machines by 264.9% in the 2nd quarter. Sanders Morris Harris LLC now owns 69,700 shares of the company’s stock worth $230,000 after purchasing an additional 50,600 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Intuitive Machines during the 2nd quarter valued at approximately $272,000. Rhumbline Advisers purchased a new stake in Intuitive Machines during the 2nd quarter valued at $119,000. Finally, Wedbush Securities Inc. bought a new stake in Intuitive Machines in the second quarter worth $35,000. 72.21% of the stock is currently owned by institutional investors.

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.