Intuitive Machines, Inc. (NASDAQ:LUNR – Get Free Report)’s share price traded down 6.8% during trading on Monday . The company traded as low as $15.01 and last traded at $15.24. 5,960,881 shares were traded during trading, a decline of 40% from the average session volume of 9,938,642 shares. The stock had previously closed at $16.35.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on LUNR shares. Canaccord Genuity Group boosted their price target on shares of Intuitive Machines from $11.00 to $12.50 and gave the stock a “buy” rating in a research note on Friday, November 15th. Roth Mkm restated a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, September 18th. B. Riley lifted their target price on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Cantor Fitzgerald lifted their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Benchmark raised their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $13.10.
Check Out Our Latest Stock Analysis on Intuitive Machines
Intuitive Machines Price Performance
Insider Buying and Selling
In other Intuitive Machines news, CFO Steven Vontur sold 10,274 shares of Intuitive Machines stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $5.58, for a total transaction of $57,328.92. Following the completion of the transaction, the chief financial officer now owns 117,500 shares in the company, valued at approximately $655,650. The trade was a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kamal Seyed Ghaffarian sold 570,705 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $6.08, for a total value of $3,469,886.40. Following the completion of the transaction, the director now directly owns 3,551,606 shares of the company’s stock, valued at approximately $21,593,764.48. This trade represents a 13.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,762,371 shares of company stock worth $38,664,183 in the last ninety days. 73.68% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Intuitive Machines
Hedge funds have recently modified their holdings of the stock. Waldron Private Wealth LLC acquired a new position in Intuitive Machines in the third quarter valued at $83,000. Wedbush Securities Inc. purchased a new stake in shares of Intuitive Machines during the 2nd quarter worth about $35,000. The Manufacturers Life Insurance Company purchased a new position in Intuitive Machines in the third quarter valued at approximately $85,000. SG Americas Securities LLC acquired a new position in Intuitive Machines during the third quarter valued at approximately $93,000. Finally, Creative Planning purchased a new stake in Intuitive Machines during the third quarter worth approximately $105,000. 72.21% of the stock is owned by institutional investors and hedge funds.
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 ĀµNova, 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.
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