Intuitive Machines (NASDAQ:LUNR) Trading Down 4.8% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR) dropped 4.8% on Tuesday . The stock traded as low as $12.55 and last traded at $12.82. Approximately 5,213,711 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 13,561,803 shares. The stock had previously closed at $13.46.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LUNR. Canaccord Genuity Group boosted their target price on Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Cantor Fitzgerald boosted their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Benchmark increased their price objective 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. 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 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on Intuitive Machines in a report on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock 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 $1.89 billion, a price-to-earnings ratio of -4.58 and a beta of 0.92. The business’s 50-day moving average price is $19.13 and its 200 day moving average price is $12.56.

Insider Buying and Selling

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Steven Vontur sold 9,266 shares of the firm’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 sale, the insider now owns 98,656 shares of the company’s stock, valued at approximately $2,219,760. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 393,659 shares of company stock valued at $7,262,364 in the last quarter. Company insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP bought a new stake in shares of Intuitive Machines in the fourth quarter worth $44,000. Jones Financial Companies Lllp grew its holdings in Intuitive Machines by 751.3% during the 4th quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock worth $70,000 after acquiring an additional 3,381 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Intuitive Machines by 201.6% in the 4th 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 last quarter. Ancora Advisors LLC acquired a new stake in shares of Intuitive Machines in the 4th quarter valued at about $91,000. Finally, Victory Capital Management Inc. bought a new position in shares of Intuitive Machines during the fourth quarter worth about $183,000. 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.