Intuitive Machines (NASDAQ:LUNR) Stock Price Down 6.6% – Here’s What Happened

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) fell 6.6% on Tuesday . The stock traded as low as $18.47 and last traded at $18.61. 5,703,119 shares changed hands during mid-day trading, a decline of 59% from the average session volume of 13,798,712 shares. The stock had previously closed at $19.93.

Wall Street Analysts Forecast Growth

LUNR has been the topic of several recent research reports. Benchmark raised their price target on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Canaccord Genuity Group raised their price target on Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Bank of America began coverage on shares of Intuitive Machines in a research note on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price target for the company. Finally, Cantor Fitzgerald boosted their price target 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. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.83.

Intuitive Machines Trading Down 9.5 %

The company has a market capitalization of $2.53 billion, a P/E ratio of -6.16 and a beta of 0.92. The business has a 50 day moving average price of $17.68 and a 200 day moving average price of $11.09.

Insider Activity

In other Intuitive Machines news, SVP Timothy Price Crain II sold 400,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the completion of the transaction, the senior vice president now owns 362,810 shares in the company, valued at approximately $4,390,001. This represents a 52.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $15.04, for a total value of $5,684,713.92. Following the transaction, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $52,561,310.72. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,305,672 shares of company stock valued at $19,236,434 in the last quarter. Company insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its holdings in shares of Intuitive Machines by 31.2% during the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after acquiring an additional 222,136 shares during the last quarter. Van ECK Associates Corp bought a new stake in Intuitive Machines in the 4th quarter valued at $3,403,000. SBI Securities Co. Ltd. bought a new stake in Intuitive Machines in the 4th quarter valued at $2,361,000. Oppenheimer & Co. Inc. bought a new stake in Intuitive Machines in the 4th quarter valued at $1,637,000. Finally, Stifel Financial Corp bought a new stake in Intuitive Machines in the 3rd quarter valued at $525,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.