Intuitive Machines (NASDAQ:LUNR) Trading Down 0.6% on Analyst Downgrade

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) traded down 0.6% on Tuesday after Roth Mkm lowered their price target on the stock from $20.00 to $12.00. Roth Mkm currently has a buy rating on the stock. Intuitive Machines traded as low as $6.36 and last traded at $6.74. 6,003,749 shares traded hands during mid-day trading, a decline of 61% from the average session volume of 15,375,839 shares. The stock had previously closed at $6.78.

Several other brokerages have also recently weighed in on LUNR. Bank of America assumed coverage on shares of Intuitive Machines in a research report on Wednesday, February 5th. They set an "underperform" rating and a $16.00 price target on the stock. Cantor Fitzgerald lifted their price objective on Intuitive Machines from $10.00 to $15.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Benchmark upped their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft began coverage on Intuitive Machines in a research report on Tuesday, February 25th. They issued a "hold" rating and a $18.00 price target on the stock. Finally, Roth Capital set a $20.00 price objective on shares of Intuitive Machines in a research report on Friday, March 7th. 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. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $16.38.

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Insider Activity

In other news, insider Steven Vontur sold 4,528 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total value 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 $2,043,731.20. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 transaction of $6,935,804.55. Following the sale, the director now owns 3,494,768 shares in the company, valued at $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 ninety days, insiders sold 393,659 shares of company stock valued at $7,262,364. 73.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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

Intuitive Machines Price Performance

The company has a market cap of $1.04 billion, a PE ratio of -2.52 and a beta of 1.01. The company has a 50-day moving average price of $18.19 and a two-hundred day moving average price of $12.78.

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.