Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s stock price gapped down prior to trading on Friday after Canaccord Genuity Group lowered their price target on the stock from $26.00 to $22.00. The stock had previously closed at $11.26, but opened at $7.26. Canaccord Genuity Group currently has a buy rating on the stock. Intuitive Machines shares last traded at $8.66, with a volume of 14,219,547 shares changing hands.
Several other brokerages have also commented 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 report on Friday, November 15th. Benchmark increased their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a "buy" rating in a report 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. Finally, Bank of America assumed coverage on shares of Intuitive Machines in a research note on Wednesday, February 5th. They issued an "underperform" rating and a $16.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $16.13.
Read Our Latest Analysis on Intuitive Machines
Insider Activity at Intuitive Machines
In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company'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 transaction, the director now owns 3,494,768 shares of the company's stock, valued at $64,128,992.80. This represents a 9.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven Vontur sold 4,528 shares of the firm's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total value of $88,748.80. Following the sale, the insider now directly owns 104,272 shares of the company's stock, valued at $2,043,731.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of the stock. Tealwood Asset Management Inc. lifted its holdings in shares of Intuitive Machines by 4.5% in the 4th quarter. Tealwood Asset Management Inc. now owns 20,900 shares of the company's stock worth $380,000 after acquiring an additional 900 shares during the last quarter. Invesco Ltd. lifted its stake in Intuitive Machines by 8.3% during the fourth quarter. Invesco Ltd. now owns 13,449 shares of the company's stock worth $244,000 after purchasing an additional 1,026 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Intuitive Machines by 10.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,187 shares of the company's stock worth $312,000 after buying an additional 1,566 shares during the period. Quarry LP acquired a new stake in shares of Intuitive Machines in the fourth quarter valued at $44,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Intuitive Machines by 3.7% in the 4th quarter. Bank of New York Mellon Corp now owns 70,740 shares of the company's stock valued at $1,285,000 after buying an additional 2,499 shares during the period. Hedge funds and other institutional investors own 72.21% of the company's stock.
Intuitive Machines Trading Down 22.7 %
The company has a fifty day moving average of $18.67 and a 200-day moving average of $12.76. The stock has a market cap of $951.55 million, a PE ratio of -2.31 and a beta of 1.01.
About Intuitive Machines
(
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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.
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