Intuitive Machines (NASDAQ:LUNR) Trading Down 4.7% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares traded down 4.7% during trading on Friday . The stock traded as low as $17.30 and last traded at $17.90. 5,054,589 shares were traded during trading, a decline of 69% from the average session volume of 16,235,721 shares. The stock had previously closed at $18.79.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Cantor Fitzgerald increased their price target on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. B. Riley lifted their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. 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. Benchmark lifted their price objective 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. Finally, Roth Mkm restated a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, September 18th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $15.80.

Intuitive Machines Stock Performance

The firm’s 50-day moving average price is $14.18 and its two-hundred day moving average price is $8.63. The firm has a market cap of $2.51 billion, a PE ratio of -6.08 and a beta of 0.90.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 344,893 shares of the company’s stock in a transaction that occurred on 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 $28,028,039.36. This represents a 8.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Timothy Price Crain II sold 400,000 shares of Intuitive Machines stock in a transaction that occurred on 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 transaction, the senior vice president now owns 362,810 shares in the company, valued at $4,390,001. This trade represents a 52.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,954,713 shares of company stock worth $24,475,385 over the last 90 days. Corporate insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds and other institutional investors have recently bought and sold shares of the company. FORA Capital LLC purchased a new stake in shares of Intuitive Machines in the third quarter valued at approximately $458,000. Geode Capital Management LLC boosted its holdings in Intuitive Machines by 31.2% during the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after buying an additional 222,136 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Intuitive Machines during the second quarter worth about $536,000. Stifel Financial Corp purchased a new position in Intuitive Machines in the third quarter valued at about $525,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Intuitive Machines by 44.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock valued at $836,000 after acquiring an additional 32,015 shares during the period. 72.21% of the stock is currently 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.