Intuitive Machines (NASDAQ:LUNR) Shares Down 9.6% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price fell 9.6% during trading on Thursday . The stock traded as low as $15.15 and last traded at $14.92. 10,247,351 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 13,569,767 shares. The stock had previously closed at $16.50.

Analyst Ratings Changes

LUNR has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on shares of Intuitive Machines in a report on Tuesday. They issued a “hold” rating and a $18.00 price target on the stock. Bank of America began coverage on Intuitive Machines in a report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price target on the stock. Canaccord Genuity Group boosted their price objective on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Benchmark raised their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Cantor Fitzgerald boosted 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.14.

Intuitive Machines Stock Performance

The company has a market capitalization of $2.02 billion, a PE ratio of -4.90 and a beta of 0.92. The business’s 50-day moving average is $19.10 and its 200-day moving average is $12.28.

Insider Activity

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the sale, the director now directly owns 3,494,768 shares in the company, valued at $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steven Vontur sold 9,266 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $22.50, for a total transaction of $208,485.00. Following the transaction, the insider now owns 98,656 shares in the company, valued at approximately $2,219,760. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 771,632 shares of company stock worth $12,947,078 over the last 90 days. 73.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Tealwood Asset Management Inc. increased its position in shares of Intuitive Machines by 4.5% during the 4th quarter. Tealwood Asset Management Inc. now owns 20,900 shares of the company’s stock valued at $380,000 after purchasing an additional 900 shares during the last quarter. Invesco Ltd. grew its position in Intuitive Machines by 8.3% during the fourth quarter. Invesco Ltd. now owns 13,449 shares of the company’s stock valued at $244,000 after buying an additional 1,026 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Intuitive Machines by 10.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,187 shares of the company’s stock worth $312,000 after acquiring an additional 1,566 shares during the period. Quarry LP purchased a new position in shares of Intuitive Machines during the 4th quarter worth $44,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Intuitive Machines by 3.7% during the 4th quarter. Bank of New York Mellon Corp now owns 70,740 shares of the company’s stock worth $1,285,000 after acquiring an additional 2,499 shares during the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

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 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.