Intuitive Machines (NASDAQ:LUNR) Trading Down 8.9% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price traded down 8.9% on Tuesday . The stock traded as low as $7.23 and last traded at $7.21. 3,806,440 shares were traded during trading, a decline of 67% from the average session volume of 11,536,097 shares. The stock had previously closed at $7.91.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Roth Capital set a $20.00 price objective on Intuitive Machines in a report on Friday, March 7th. Roth Mkm dropped their price objective on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. Canaccord Genuity Group lowered their price target on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Intuitive Machines in a research note on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price target for the company. Finally, Bank of America assumed coverage on Intuitive Machines in a research note 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 an average rating of “Moderate Buy” and an average target price of $16.38.

Intuitive Machines Stock Performance

The company has a 50-day moving average of $17.15 and a 200-day moving average of $12.85. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of -2.47 and a beta of 1.01.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $64,128,992.80. This represents a 9.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Steven Vontur sold 4,528 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 104,272 shares of the company’s stock, valued at approximately $2,043,731.20. This trade represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 392,713 shares of company stock worth $7,250,066. 73.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

Several large investors have recently made changes to their positions in LUNR. Two Sigma Investments LP acquired a new stake in shares of Intuitive Machines in the 4th quarter valued at approximately $33,255,000. D. E. Shaw & Co. Inc. boosted its holdings in shares of Intuitive Machines by 3,991.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company’s stock valued at $21,102,000 after buying an additional 1,133,581 shares during the last quarter. Vanguard Group Inc. raised its stake in Intuitive Machines by 33.6% in the 4th quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company’s stock valued at $73,503,000 after acquiring an additional 1,017,706 shares during the period. Renaissance Technologies LLC raised its stake in Intuitive Machines by 99.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company’s stock valued at $22,170,000 after acquiring an additional 609,118 shares during the period. Finally, Driehaus Capital Management LLC bought a new stake in Intuitive Machines in the 4th quarter valued at $9,133,000. Institutional investors and hedge funds 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.