Intuitive Machines (NASDAQ:LUNR) Stock Price Down 4.8% - What's Next?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) dropped 4.8% during mid-day trading on Tuesday . The stock traded as low as $12.55 and last traded at $12.82. Approximately 5,213,711 shares traded hands during trading, a decline of 62% from the average daily volume of 13,561,803 shares. The stock had previously closed at $13.46.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LUNR shares. Bank of America initiated coverage on Intuitive Machines in a report on Wednesday, February 5th. They set an "underperform" rating and a $16.00 price objective for the company. Benchmark boosted their price target on Intuitive Machines from $10.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Canaccord Genuity Group decreased their price objective on Intuitive Machines from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Friday. Cantor Fitzgerald lifted their target price on Intuitive Machines from $10.00 to $15.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Intuitive Machines in a research report on Tuesday, February 25th. They issued a "hold" rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $16.13.

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Intuitive Machines Price Performance

The company has a market cap of $951.55 million, a P/E ratio of -2.31 and a beta of 1.01. The stock has a 50-day moving average of $18.67 and a 200 day moving average of $12.76.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines 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 transaction of $6,935,804.55. Following the completion of the sale, the director now directly owns 3,494,768 shares in the company, valued at $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Vontur sold 9,266 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $22.50, for a total transaction of $208,485.00. Following the transaction, the insider now owns 98,656 shares of the company's stock, valued at approximately $2,219,760. This represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 393,659 shares of company stock valued at $7,262,364 in the last ninety days. 73.68% of the stock is currently owned by company insiders.

Institutional Trading of Intuitive Machines

Hedge funds have recently added to or reduced their stakes in the stock. Tealwood Asset Management Inc. lifted its stake 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 valued at $380,000 after acquiring an additional 900 shares during the last quarter. Invesco Ltd. raised its position in Intuitive Machines by 8.3% in the fourth quarter. Invesco Ltd. now owns 13,449 shares of the company's stock valued at $244,000 after purchasing an additional 1,026 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake 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 valued at $312,000 after purchasing an additional 1,566 shares in the last quarter. Quarry LP bought a new stake in shares of Intuitive Machines during the fourth quarter worth about $44,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Intuitive Machines by 3.7% in the fourth 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. Institutional investors and hedge funds own 72.21% of the company's stock.

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.