Intuitive Machines (NASDAQ:LUNR) Shares Gap Down – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares gapped down prior to trading on Monday . The stock had previously closed at $18.39, but opened at $17.75. Intuitive Machines shares last traded at $17.79, with a volume of 4,297,655 shares traded.

Analysts Set New Price Targets

LUNR has been the topic of a number of research reports. Cantor Fitzgerald boosted their target price 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. Roth Mkm reiterated a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday, September 18th. Benchmark raised their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Canaccord Genuity Group cut their price target on shares of Intuitive Machines from $19.00 to $17.50 and set a “buy” rating on the stock in a report on Friday, December 6th. Finally, B. Riley raised their price objective 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. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Intuitive Machines presently has a consensus rating of “Buy” and an average target price of $14.10.

Intuitive Machines Stock Down 4.1 %

The business’s 50-day moving average price is $12.33 and its 200-day moving average price is $7.77. The firm has a market capitalization of $2.55 billion, a PE ratio of -6.18 and a beta of 0.93.

Insiders Place Their Bets

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $15.04, for a total transaction of $5,684,713.92. Following the completion of the sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at $52,561,310.72. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen J. Altemus sold 138,568 shares of Intuitive Machines stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $11.10, for a total value of $1,538,104.80. Following the sale, the chief executive officer now owns 910,919 shares of the company’s stock, valued at approximately $10,111,200.90. This represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,702,731 shares of company stock worth $18,475,694 in the last quarter. 73.68% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LUNR. FORA Capital LLC bought a new stake in Intuitive Machines in the third quarter worth $458,000. Squarepoint Ops LLC acquired a new stake in shares of Intuitive Machines in the second quarter worth about $536,000. Stifel Financial Corp bought a new stake in shares of Intuitive Machines during the 3rd quarter worth about $525,000. Charles Schwab Investment Management Inc. increased its holdings 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 last quarter. Finally, Wedbush Securities Inc. bought a new position in shares of Intuitive Machines in the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

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.