Intuitive Machines (NASDAQ:LUNR) Shares Down 9.6% - What's Next?

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares dropped 9.6% during mid-day trading on Thursday . The stock traded as low as $15.15 and last traded at $14.92. Approximately 10,247,351 shares traded hands during mid-day trading, a decline of 24% from the average daily volume of 13,569,767 shares. The stock had previously closed at $16.50.

Analyst Upgrades and Downgrades

LUNR has been the subject of several research analyst reports. Cantor Fitzgerald increased 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. Canaccord Genuity Group raised their target price on Intuitive Machines from $17.50 to $26.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. 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 price target on the stock. Benchmark raised their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intuitive Machines in a research report on Tuesday, February 25th. They issued a "hold" rating and a $18.00 price target for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $16.14.

Intuitive Machines Stock Up 4.8 %

The business's fifty day simple moving average is $19.07 and its two-hundred day simple moving average is $12.63. The company has a market cap of $1.98 billion, a price-to-earnings ratio of -4.80 and a beta of 1.01.

Insiders Place Their Bets

In other news, 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business's stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.35, for a total value of $6,935,804.55. Following the sale, the director now owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 393,659 shares of company stock valued at $7,262,364. 73.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuitive Machines

Several hedge funds have recently modified their holdings of the company. Creative Planning acquired a new position in Intuitive Machines during the third quarter worth approximately $105,000. AlphaCentric Advisors LLC acquired a new position in shares of Intuitive Machines during the third quarter worth $121,000. LMR Partners LLP purchased a new position in Intuitive Machines in the 3rd quarter valued at about $110,000. Charles Schwab Investment Management Inc. grew its stake in Intuitive Machines by 44.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company's stock valued at $836,000 after purchasing an additional 32,015 shares in the last quarter. Finally, Penserra Capital Management LLC raised its stake in shares of Intuitive Machines by 16.5% in the 3rd quarter. Penserra Capital Management LLC now owns 147,857 shares of the company's stock valued at $1,190,000 after purchasing an additional 20,916 shares in the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

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.