Intuitive Machines (NASDAQ:LUNR) Shares Down 9.6% – Here’s What Happened

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

Analyst Ratings Changes

LUNR has been the topic of several recent research reports. 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. Deutsche Bank Aktiengesellschaft assumed coverage on Intuitive Machines in a report on Tuesday. They issued a “hold” rating and a $18.00 target price on the stock. Benchmark boosted their target price 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. Canaccord Genuity Group upped their target price on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Finally, Bank of America started coverage on Intuitive Machines in a research note on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intuitive Machines presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.14.

Intuitive Machines Stock Up 1.3 %

The company has a market capitalization of $2.05 billion, a P/E ratio of -4.96 and a beta of 0.92. The business’s 50-day moving average is $19.15 and its two-hundred day moving average is $12.37.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the transaction, the director now owns 3,494,768 shares in the company, valued at $64,128,992.80. This represents a 9.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Vontur sold 4,528 shares of Intuitive Machines stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total value of $88,748.80. Following the sale, the insider now owns 104,272 shares in the company, valued at $2,043,731.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 771,632 shares of company stock worth $12,947,078. Insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Intuitive Machines during the 4th quarter valued at $44,000. Jones Financial Companies Lllp boosted its position in Intuitive Machines by 751.3% during the fourth quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock worth $70,000 after purchasing an additional 3,381 shares during the period. Steward Partners Investment Advisory LLC boosted its position in Intuitive Machines by 201.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock worth $90,000 after purchasing an additional 3,300 shares during the period. Ancora Advisors LLC purchased a new position in shares of Intuitive Machines in the fourth quarter worth about $91,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Intuitive Machines in the fourth quarter valued at approximately $183,000. 72.21% of the stock is owned by institutional investors.

Intuitive Machines Company Profile

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.