Intuitive Machines (NASDAQ:LUNR) Trading Down 9.6% - Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s stock price was down 9.6% on Thursday . The stock traded as low as $15.15 and last traded at $14.92. Approximately 10,247,351 shares changed hands during mid-day trading, a decline of 24% from the average daily volume of 13,569,767 shares. The stock had previously closed at $16.50.

Analysts Set New Price Targets

Several analysts have recently weighed in on LUNR shares. Canaccord Genuity Group lifted their price objective on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Cantor Fitzgerald lifted their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intuitive Machines in a report on Tuesday, February 25th. They issued a "hold" rating and a $18.00 price target on the stock. Benchmark upped their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a "buy" rating in a report on Friday, November 15th. Finally, Bank of America began coverage on shares of Intuitive Machines in a report on Wednesday, February 5th. They set an "underperform" rating and a $16.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $16.14.

Intuitive Machines Price Performance

The firm has a market capitalization of $2.05 billion, a PE ratio of -4.96 and a beta of 0.92. The firm has a 50-day simple moving average of $19.15 and a 200-day simple moving average of $12.49.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $15.04, for a total value of $5,684,713.92. Following the sale, the director now owns 3,494,768 shares of the company's stock, valued at $52,561,310.72. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Steven Vontur sold 9,266 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $22.50, for a total value of $208,485.00. Following the transaction, the insider now directly owns 98,656 shares in the company, valued at approximately $2,219,760. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 771,632 shares of company stock valued at $12,947,078. 73.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new position in Intuitive Machines during the 4th quarter valued at about $44,000. Jones Financial Companies Lllp boosted its holdings in Intuitive Machines by 751.3% in the fourth quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company's stock valued at $70,000 after purchasing an additional 3,381 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Intuitive Machines during the 3rd quarter worth about $85,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Intuitive Machines by 201.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company's stock worth $90,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Ancora Advisors LLC purchased a new stake in shares of Intuitive Machines during the 4th quarter worth about $91,000. 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.