Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares were down 5.1% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $19.80 and last traded at $20.47. Approximately 2,936,223 shares changed hands during mid-day trading, a decline of 79% from the average daily volume of 13,990,390 shares. The stock had previously closed at $21.58.
Specifically, insider Steven Vontur sold 9,266 shares of the 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 transaction, the insider now directly owns 98,656 shares in the company, valued at $2,219,760. This represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Wall Street Analyst Weigh In
LUNR has been the subject of several research analyst reports. Cantor Fitzgerald upped their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Bank of America started coverage on Intuitive Machines in a research note on Wednesday. They set an "underperform" rating and a $16.00 price target on the stock. Benchmark boosted their price objective on Intuitive Machines from $10.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Finally, Canaccord Genuity Group increased their price objective on Intuitive Machines from $17.50 to $26.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Intuitive Machines currently has a consensus rating of "Moderate Buy" and a consensus target price of $15.83.
Read Our Latest Report on Intuitive Machines
Intuitive Machines Trading Down 5.1 %
The company has a 50 day simple moving average of $17.57 and a 200 day simple moving average of $10.94. The stock has a market capitalization of $2.58 billion, a PE ratio of -6.26 and a beta of 0.92.
Institutional Investors Weigh In On Intuitive Machines
Several large investors have recently modified their holdings of LUNR. Geode Capital Management LLC increased its stake in Intuitive Machines by 31.2% in the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company's stock valued at $7,514,000 after buying an additional 222,136 shares during the period. State Street Corp boosted its holdings in shares of Intuitive Machines by 1.3% in the third quarter. State Street Corp now owns 576,051 shares of the company's stock valued at $4,637,000 after acquiring an additional 7,538 shares in the last quarter. Van ECK Associates Corp acquired a new position in shares of Intuitive Machines during the fourth quarter worth about $3,403,000. Penserra Capital Management LLC raised its holdings in Intuitive Machines by 16.5% during the third quarter. Penserra Capital Management LLC now owns 147,857 shares of the company's stock worth $1,190,000 after purchasing an additional 20,916 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Intuitive Machines in the fourth quarter valued at about $2,361,000. Hedge funds and other institutional investors own 72.21% of the company's stock.
Intuitive Machines Company Profile
(
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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.
Further Reading
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