Intuitive Machines (NASDAQ:LUNR) Shares Down 19.8% After Analyst Downgrade

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares were down 19.8% on Monday 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 $7.04 and last traded at $7.04. Approximately 10,227,757 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 15,262,311 shares. The stock had previously closed at $8.77.

A number of other equities research analysts also recently weighed in on LUNR. Cantor Fitzgerald raised their price objective on Intuitive Machines from $10.00 to $15.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Benchmark boosted their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Canaccord Genuity Group cut their price target on shares of Intuitive Machines from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Intuitive Machines in a report on Tuesday, February 25th. They set a "hold" rating and a $18.00 price objective for the company. 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 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $16.38.

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Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the 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 transaction, the director now owns 3,494,768 shares in the company, 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 can be accessed through this hyperlink. Also, insider Steven Vontur sold 9,266 shares of Intuitive Machines stock in a transaction on Friday, January 31st. The shares were sold at an average price of $22.50, for a total transaction of $208,485.00. Following the completion of the sale, the insider now directly owns 98,656 shares in the company, valued at $2,219,760. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 393,659 shares of company stock valued at $7,262,364. Corporate insiders own 73.68% of the company's stock.

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LUNR. Quarry LP acquired a new position in shares of Intuitive Machines during the 4th quarter worth about $44,000. Jones Financial Companies Lllp raised its holdings in shares of Intuitive Machines by 751.3% during the fourth quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company's stock valued at $70,000 after acquiring an additional 3,381 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Intuitive Machines in the third quarter valued at approximately $85,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Intuitive Machines by 201.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company's stock worth $90,000 after acquiring an additional 3,300 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new stake in shares of Intuitive Machines during the fourth quarter worth approximately $91,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

Intuitive Machines Stock Performance

The company has a 50 day moving average of $17.97 and a 200 day moving average of $12.74. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of -2.52 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.