Intuitive Machines (NASDAQ:LUNR) Trading Down 0% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price dropped 0% during trading on Friday . The stock traded as low as $6.81 and last traded at $7.11. Approximately 1,836,418 shares changed hands during trading, a decline of 84% from the average daily volume of 11,591,672 shares. The stock had previously closed at $7.11.

Analyst Upgrades and Downgrades

LUNR has been the subject of several research reports. Bank of America initiated coverage on shares of Intuitive Machines in a research note on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price objective for the company. Roth Mkm lowered their price objective on shares of Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intuitive Machines in a research note on Tuesday, February 25th. They set a “hold” rating and a $18.00 price objective for the company. Canaccord Genuity Group decreased their target price on shares of Intuitive Machines from $26.00 to $22.00 and set a “buy” rating for the company in a research report on Friday, March 7th. Finally, Roth Capital set a $20.00 target price on shares of Intuitive Machines in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $16.38.

Intuitive Machines Stock Down 0.3 %

The business’s 50-day simple moving average is $16.22 and its two-hundred day simple moving average is $12.85. The firm has a market cap of $995.06 million, a price-to-earnings ratio of -2.41 and a beta of 1.01.

Insiders Place Their Bets

In other news, insider Steven Vontur sold 9,266 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $22.50, for a total transaction of $208,485.00. Following the completion of the sale, the insider now owns 98,656 shares of the company’s stock, valued at $2,219,760. The trade was a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at $64,128,992.80. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 392,713 shares of company stock worth $7,250,066. Company insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Tealwood Asset Management Inc. increased its stake in shares of Intuitive Machines by 4.5% during the fourth quarter. Tealwood Asset Management Inc. now owns 20,900 shares of the company’s stock worth $380,000 after purchasing an additional 900 shares in the last quarter. Invesco Ltd. increased its stake in shares of Intuitive Machines by 8.3% during the fourth quarter. Invesco Ltd. now owns 13,449 shares of the company’s stock worth $244,000 after purchasing an additional 1,026 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Intuitive Machines by 10.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,187 shares of the company’s stock worth $312,000 after purchasing an additional 1,566 shares in the last quarter. Quarry LP purchased a new stake in shares of Intuitive Machines during the fourth quarter worth about $44,000. Finally, Bank of New York Mellon Corp grew its stake in 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 valued at $1,285,000 after acquiring an additional 2,499 shares in the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

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.