Intuitive Machines (NASDAQ:LUNR) Stock Price Down 6.6% After Insider Selling

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares were down 6.6% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $18.47 and last traded at $18.61. Approximately 5,703,119 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 13,798,712 shares. The stock had previously closed at $19.93.

Specifically, insider Steven Vontur sold 4,528 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the completion of the sale, the insider now directly owns 104,272 shares of the company's stock, valued at approximately $2,043,731.20. This represents a 4.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Analysts Set New Price Targets

LUNR has been the subject of several research analyst reports. Benchmark boosted their price objective on Intuitive Machines from $10.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Cantor Fitzgerald upped their price target on Intuitive Machines from $10.00 to $15.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. 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 research report on Wednesday, January 8th. Finally, Bank of America started coverage on shares of Intuitive Machines in a research report on Wednesday, February 5th. They set an "underperform" rating and a $16.00 target price on the stock. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.83.

Intuitive Machines Stock Performance

The company has a market cap of $2.75 billion, a P/E ratio of -6.67 and a beta of 0.92. The stock has a 50-day simple moving average of $18.17 and a 200 day simple moving average of $11.46.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LUNR. Vanguard Group Inc. increased its holdings 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 buying an additional 1,017,706 shares during the period. Renaissance Technologies LLC increased its stake in Intuitive Machines by 99.6% in the fourth 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. Geode Capital Management LLC raised its position in Intuitive Machines by 20.5% in the fourth quarter. Geode Capital Management LLC now owns 1,125,005 shares of the company's stock worth $20,437,000 after purchasing an additional 191,733 shares in the last quarter. State Street Corp lifted its stake in Intuitive Machines by 1.3% during the third quarter. State Street Corp now owns 576,051 shares of the company's stock worth $4,637,000 after purchasing an additional 7,538 shares during the period. Finally, Northern Trust Corp boosted its holdings in Intuitive Machines by 24.5% during the fourth quarter. Northern Trust Corp now owns 338,836 shares of the company's stock valued at $6,153,000 after purchasing an additional 66,581 shares in the last quarter. 72.21% of the stock is owned by institutional investors.

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.