Intuitive Machines (NASDAQ:LUNR) Shares Down 1.3% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) dropped 1.3% during trading on Wednesday . The stock traded as low as $21.86 and last traded at $22.65. Approximately 6,826,455 shares traded hands during mid-day trading, a decline of 54% from the average daily volume of 14,763,761 shares. The stock had previously closed at $22.94.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Benchmark upped their price target on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Cantor Fitzgerald raised their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Canaccord Genuity Group boosted their price target on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Intuitive Machines currently has an average rating of “Buy” and an average price target of $15.80.

Intuitive Machines Stock Performance

The company has a market capitalization of $3.24 billion, a price-to-earnings ratio of -7.85 and a beta of 0.90. The company has a 50-day moving average price of $15.98 and a 200-day moving average price of $9.60.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, CEO Stephen J. Altemus sold 61,432 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $11.00, for a total value of $675,752.00. Following the completion of the sale, the chief executive officer now directly owns 910,919 shares in the company, valued at $10,020,109. This represents a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction dated 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 transaction, the director now owns 3,494,768 shares in the company, valued at $64,128,992.80. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,609,820 shares of company stock worth $21,709,343. 73.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

Several large investors have recently made changes to their positions in LUNR. Sender Co & Partners Inc. acquired a new position in Intuitive Machines in the 2nd quarter worth $56,000. Waldron Private Wealth LLC bought a new stake in shares of Intuitive Machines in the third quarter valued at about $83,000. The Manufacturers Life Insurance Company acquired a new position in shares of Intuitive Machines during the third quarter worth about $85,000. SG Americas Securities LLC bought a new position in shares of Intuitive Machines during the third quarter worth about $93,000. Finally, Creative Planning acquired a new stake in Intuitive Machines in the 3rd quarter valued at approximately $105,000. Institutional investors own 72.21% of the company’s stock.

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.