Intuitive Machines (NASDAQ:LUNR) Trading Down 4.8% - Here's Why

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) dropped 4.8% during trading on Tuesday . The company traded as low as $12.55 and last traded at $12.82. Approximately 5,213,711 shares changed hands during 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

LUNR has been the subject of a number of analyst reports. Cantor Fitzgerald boosted their target price 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intuitive Machines in a research note on Tuesday, February 25th. They set a "hold" rating and a $18.00 target price for the company. Bank of America initiated coverage on shares of Intuitive Machines in a research note on Wednesday, February 5th. They set an "underperform" rating and a $16.00 target price for the company. Benchmark boosted their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Finally, Canaccord Genuity Group boosted their price target on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a "buy" rating in a research report on Wednesday, January 8th. 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 stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $16.14.

Intuitive Machines Stock Up 4.8 %

The business's fifty day moving average price is $19.01 and its 200 day moving average price is $12.64. The firm has a market capitalization of $1.98 billion, a PE ratio of -4.80 and a beta of 1.01.

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 shares were 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 directly owns 3,494,768 shares of the company's stock, valued at $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Steven Vontur sold 4,528 shares of the stock in a transaction dated 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 directly owns 104,272 shares of the company's stock, valued at $2,043,731.20. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 393,659 shares of company stock valued at $7,262,364 over the last ninety days. Corporate insiders own 73.68% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Intuitive Machines by 33.6% during the fourth quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company's stock worth $73,503,000 after buying an additional 1,017,706 shares during the period. Two Sigma Investments LP acquired a new position in Intuitive Machines during the fourth quarter worth about $33,255,000. Renaissance Technologies LLC grew its position in Intuitive Machines by 99.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company's stock worth $22,170,000 after buying an additional 609,118 shares during the period. D. E. Shaw & Co. Inc. grew its position in Intuitive Machines by 3,991.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company's stock worth $21,102,000 after buying an additional 1,133,581 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Intuitive Machines by 20.5% in the fourth quarter. Geode Capital Management LLC now owns 1,125,005 shares of the company's stock valued at $20,437,000 after purchasing an additional 191,733 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.