Intuitive Machines (NASDAQ:LUNR) Trading Down 1.8% – Here’s Why

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) fell 1.8% on Thursday . The stock traded as low as $13.20 and last traded at $13.86. 4,654,932 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 13,449,778 shares. The stock had previously closed at $14.11.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft started coverage on Intuitive Machines in a research report on Tuesday, February 25th. They set a “hold” rating and a $18.00 target price on the stock. Cantor Fitzgerald increased their price target on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Canaccord Genuity Group raised their price objective on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Benchmark boosted their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Bank of America began coverage on shares of Intuitive Machines in a report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Intuitive Machines currently has a consensus rating of “Moderate Buy” and an average target price of $16.14.

Intuitive Machines Stock Down 20.4 %

The business has a 50-day moving average price of $19.01 and a two-hundred day moving average price of $12.64. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -3.82 and a beta of 1.01.

Insiders Place Their Bets

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the completion of the transaction, the director now owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $22.50, for a total value of $208,485.00. Following the sale, the insider now directly owns 98,656 shares of the company’s stock, valued at $2,219,760. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 393,659 shares of company stock worth $7,262,364. Insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Creative Planning bought a new position in Intuitive Machines during the 3rd quarter valued at $105,000. AlphaCentric Advisors LLC purchased a new stake in shares of Intuitive Machines in the third quarter valued at about $121,000. LMR Partners LLP purchased a new stake in shares of Intuitive Machines in the third quarter valued at about $110,000. Charles Schwab Investment Management Inc. lifted its position in shares of Intuitive Machines by 44.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock valued at $836,000 after purchasing an additional 32,015 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its holdings in Intuitive Machines by 16.5% during the third quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock worth $1,190,000 after purchasing an additional 20,916 shares during the last quarter. Hedge funds and other institutional investors 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.