Intuitive Machines (NASDAQ:LUNR) Stock Price Down 0.6% on Analyst Downgrade

Intuitive Machines, Inc. (NASDAQ:LUNR) shares traded down 0.6% during mid-day trading on Tuesday after Roth Mkm lowered their price target on the stock from $20.00 to $12.00. Roth Mkm currently has a buy rating on the stock. Intuitive Machines traded as low as $6.36 and last traded at $6.74. 6,003,749 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 15,375,839 shares. The stock had previously closed at $6.78.

Several other research analysts have also recently issued reports on the stock. Cantor Fitzgerald increased their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Bank of America began 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. Roth Capital set a $20.00 price objective on Intuitive Machines in a research note on Friday. Canaccord Genuity Group cut their price objective on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating for the company in a report on Friday. Finally, Benchmark lifted their target price on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 15th. One equities research 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. According to MarketBeat, Intuitive Machines presently has a consensus rating of “Moderate Buy” and an average price target of $16.38.

Insider Buying and Selling

In other news, 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 transaction of $88,748.80. Following the transaction, the insider now owns 104,272 shares in the company, valued at approximately $2,043,731.20. The trade was a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.35, for a total value of $6,935,804.55. Following the transaction, the director now directly owns 3,494,768 shares in the company, valued at $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 393,659 shares of company stock valued at $7,262,364. 73.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently bought and sold shares of LUNR. FORA Capital LLC purchased a new stake in shares of Intuitive Machines in the third quarter worth approximately $458,000. Geode Capital Management LLC increased its stake in Intuitive Machines by 31.2% in the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after buying an additional 222,136 shares during the period. Van ECK Associates Corp purchased a new stake in Intuitive Machines in the 4th quarter worth approximately $3,403,000. Entropy Technologies LP acquired a new stake in shares of Intuitive Machines during the 4th quarter valued at $895,000. Finally, Spire Wealth Management purchased a new position in shares of Intuitive Machines during the 4th quarter valued at $469,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Intuitive Machines Stock Up 2.8 %

The stock’s 50 day moving average price is $18.42 and its two-hundred day moving average price is $12.77. The firm has a market capitalization of $977.94 million, a price-to-earnings ratio of -2.31 and a beta of 1.01.

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.