Intuitive Machines (NASDAQ:LUNR) Stock Price Down 5.4% – Here’s Why

by · The Markets Daily

Intuitive Machines, Inc. (NASDAQ:LUNR – Get Free Report)’s share price traded down 5.4% during mid-day trading on Thursday . The stock traded as low as $17.87 and last traded at $18.79. 13,412,728 shares changed hands during trading, a decline of 28% from the average session volume of 18,565,371 shares. The stock had previously closed at $19.87.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. 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 report on Wednesday. B. Riley boosted their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. 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 report 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 report on Wednesday, September 18th. Finally, Benchmark boosted their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $15.80.

Get Our Latest Report on Intuitive Machines

Intuitive Machines Stock Down 5.4 %

The firm’s 50 day simple moving average is $13.76 and its 200 day simple moving average is $8.42. The company has a market capitalization of $2.64 billion, a PE ratio of -6.39 and a beta of 0.90.

Insider Activity

In related news, SVP Timothy Price Crain II sold 400,000 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total value of $4,840,000.00. Following the completion of the sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at $4,390,001. This represents a 52.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 344,893 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $8.02, for a total transaction of $2,766,041.86. Following the completion of the sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at approximately $28,028,039.36. This trade represents a 8.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,954,713 shares of company stock valued at $24,475,385. 73.68% of the stock is currently owned by company insiders.

Institutional Trading of Intuitive Machines

A number of hedge funds have recently added to or reduced their stakes in LUNR. State Street Corp raised its holdings in Intuitive Machines by 1.3% in the third quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after purchasing an additional 7,538 shares in the last quarter. Waldron Private Wealth LLC acquired a new position in shares of Intuitive Machines during the third quarter valued at about $83,000. Wedbush Securities Inc. acquired a new position in shares of Intuitive Machines during the second quarter valued at about $35,000. The Manufacturers Life Insurance Company acquired a new position in shares of Intuitive Machines during the third quarter valued at about $85,000. Finally, SG Americas Securities LLC acquired a new position in shares of Intuitive Machines during the third quarter valued at about $93,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

Intuitive Machines Company Profile

(Get Free Report)

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.

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