Intuitive Machines (NASDAQ:LUNR) Stock Price Down 4.7% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price was down 4.7% on Friday . The company traded as low as $17.30 and last traded at $17.90. Approximately 5,054,589 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 16,235,721 shares. The stock had previously closed at $18.79.

Wall Street Analyst Weigh In

Several brokerages recently commented on LUNR. Canaccord Genuity Group increased their price objective on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research report on Wednesday. Roth Mkm reiterated a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday, September 18th. Benchmark raised their target price on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Cantor Fitzgerald increased their price objective on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, B. Riley lifted their target price on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $15.80.

Intuitive Machines Price Performance

The business has a fifty day simple moving average of $14.18 and a 200 day simple moving average of $8.63. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of -6.08 and a beta of 0.90.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 177,734 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $7.93, for a total value of $1,409,430.62. Following the transaction, the director now directly owns 3,494,768 shares in the company, valued at $27,713,510.24. The trade was a 4.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Stephen J. Altemus sold 61,432 shares of Intuitive Machines stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $11.00, for a total transaction of $675,752.00. Following the sale, the chief executive officer now directly owns 910,919 shares in the company, valued at approximately $10,020,109. The trade was a 6.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,954,713 shares of company stock worth $24,475,385 in the last ninety days. Insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wedbush Securities Inc. acquired a new position in Intuitive Machines in the 2nd quarter valued at about $35,000. Sender Co & Partners Inc. purchased a new position in shares of Intuitive Machines in the second quarter valued at approximately $56,000. Waldron Private Wealth LLC acquired a new position in shares of Intuitive Machines in the third quarter valued at approximately $83,000. The Manufacturers Life Insurance Company purchased a new stake in Intuitive Machines during the 3rd quarter worth approximately $85,000. Finally, SG Americas Securities LLC acquired a new stake in Intuitive Machines during the 3rd quarter worth approximately $93,000. 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.