Intuitive Machines (NASDAQ:LUNR) Shares Down 1.8% - Here's What Happened

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) fell 1.8% on Thursday . The stock traded as low as $13.20 and last traded at $13.86. 4,654,932 shares were traded during mid-day trading, a decline of 65% from the average session volume of 13,449,778 shares. The stock had previously closed at $14.11.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LUNR shares. Cantor Fitzgerald raised their price target on Intuitive Machines from $10.00 to $15.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Bank of America assumed coverage on shares of Intuitive Machines in a report on Wednesday, February 5th. They set an "underperform" rating and a $16.00 target price on the stock. Benchmark boosted their price target 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 assumed 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. Finally, Canaccord Genuity Group cut their price objective on shares of Intuitive Machines from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.13.

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Intuitive Machines Stock Performance

The business's fifty day moving average price is $18.67 and its two-hundred day moving average price is $12.76. The firm has a market capitalization of $953.80 million, a P/E ratio of -2.32 and a beta of 1.01.

Insider Activity at Intuitive Machines

In other news, insider Steven Vontur sold 4,528 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was 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 approximately $2,043,731.20. This represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction on Monday, December 30th. The shares were 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 of the company's stock, valued at approximately $64,128,992.80. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 393,659 shares of company stock valued at $7,262,364 over the last 90 days. Insiders own 73.68% of the company's stock.

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds have recently modified their holdings of LUNR. Vanguard Group Inc. boosted its stake in Intuitive Machines by 33.6% in the 4th quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company's stock worth $73,503,000 after purchasing an additional 1,017,706 shares in the last quarter. Two Sigma Investments LP purchased a new position in shares of Intuitive Machines in the fourth quarter worth $33,255,000. Renaissance Technologies LLC lifted its stake in shares of Intuitive Machines by 99.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company's stock worth $22,170,000 after buying an additional 609,118 shares during the period. D. E. Shaw & Co. Inc. grew its holdings in shares of 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 during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Intuitive Machines by 20.5% during the fourth quarter. Geode Capital Management LLC now owns 1,125,005 shares of the company's stock valued at $20,437,000 after buying an additional 191,733 shares during the last quarter. 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.