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

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s stock price was down 0.6% during mid-day trading 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. Approximately 6,003,749 shares changed hands during trading, a decline of 61% from the average daily volume of 15,375,839 shares. The stock had previously closed at $6.78.

LUNR has been the topic of several other reports. Deutsche Bank Aktiengesellschaft started coverage on shares of Intuitive Machines in a report on Tuesday, February 25th. They set a "hold" rating and a $18.00 price target on the stock. Canaccord Genuity Group decreased their price objective on shares of Intuitive Machines from $26.00 to $22.00 and set a "buy" rating for the company in a report on Friday, March 7th. Cantor Fitzgerald upped their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Benchmark upped their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Finally, Bank of America initiated coverage on shares of Intuitive Machines in a report on Wednesday, February 5th. They issued an "underperform" rating and a $16.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Intuitive Machines has a consensus rating of "Moderate Buy" and an average target price of $16.38.

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Insiders Place Their Bets

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company's stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the completion of the transaction, the director now owns 3,494,768 shares of the company's stock, valued at approximately $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Vontur sold 9,266 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $22.50, for a total transaction of $208,485.00. Following the transaction, the insider now directly owns 98,656 shares of the company's stock, valued at $2,219,760. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 393,659 shares of company stock valued at $7,262,364 in the last quarter. Insiders own 73.68% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in LUNR. Creative Planning acquired a new position in shares of Intuitive Machines during the third quarter valued at about $105,000. LMR Partners LLP acquired a new position in shares of Intuitive Machines during the third quarter valued at about $110,000. Charles Schwab Investment Management Inc. raised its position in shares of Intuitive Machines by 44.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company's stock valued at $836,000 after buying an additional 32,015 shares during the last quarter. Penserra Capital Management LLC raised its position in Intuitive Machines by 16.5% in the third quarter. Penserra Capital Management LLC now owns 147,857 shares of the company's stock worth $1,190,000 after purchasing an additional 20,916 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Intuitive Machines in the third quarter worth about $85,000. Institutional investors and hedge funds own 72.21% of the company's stock.

Intuitive Machines Stock Down 4.4 %

The stock has a market cap of $909.45 million, a price-to-earnings ratio of -2.20 and a beta of 1.01. The company's 50-day moving average is $18.19 and its 200-day moving average is $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.

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