Intuitive Machines (NASDAQ:LUNR) Shares Down 7.2% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares were down 7.2% during mid-day trading on Friday . The company traded as low as $15.73 and last traded at $15.5010. Approximately 1,542,683 shares were traded during trading, a decline of 84% from the average daily volume of 9,444,190 shares. The stock had previously closed at $16.71.

Analyst Ratings Changes

LUNR has been the subject of a number of recent research reports. Stifel Nicolaus started coverage on shares of Intuitive Machines in a research note on Monday, November 3rd. They set a “buy” rating and a $18.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Intuitive Machines in a research note on Wednesday, December 3rd. B. Riley raised their price target on Intuitive Machines from $14.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Canaccord Genuity Group reduced their price objective on Intuitive Machines from $18.50 to $15.50 and set a “buy” rating for the company in a research note on Friday, November 7th. Finally, Bank of America increased their price objective on Intuitive Machines from $8.50 to $9.50 and gave the stock an “underperform” rating in a research report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.25.

Intuitive Machines Price Performance

The stock’s 50-day moving average is $11.22 and its 200 day moving average is $10.73. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of -6.17 and a beta of 1.44.

Insider Activity

In related news, Director Michael Blitzer bought 100,000 shares of the firm’s stock in a transaction on Thursday, November 13th. The shares were bought at an average cost of $8.83 per share, for a total transaction of $883,000.00. Following the transaction, the director owned 1,931,248 shares of the company’s stock, valued at approximately $17,052,919.84. This trade represents a 5.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Timothy Price Crain II sold 200,000 shares of the company’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $16.04, for a total transaction of $3,208,000.00. Following the transaction, the senior vice president directly owned 298,435 shares in the company, valued at approximately $4,786,897.40. This trade represents a 40.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 2,350,000 shares of company stock valued at $36,849,531 in the last three months. 39.75% of the stock is currently owned by company insiders.

Institutional Trading of Intuitive Machines

Institutional investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC increased its holdings in Intuitive Machines by 180.0% in the second quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company’s stock valued at $30,000 after buying an additional 1,800 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Intuitive Machines by 35.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company’s stock worth $47,000 after acquiring an additional 1,127 shares during the period. Quarry LP increased its stake in Intuitive Machines by 151.4% in the 3rd quarter. Quarry LP now owns 6,457 shares of the company’s stock valued at $68,000 after purchasing an additional 3,889 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Intuitive Machines in the 3rd quarter valued at approximately $94,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Intuitive Machines during the third quarter worth $109,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.