Intuitive Machines (NASDAQ:LUNR) Trading Down 19.8% Following Analyst Downgrade

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s share price traded down 19.8% during mid-day trading on Monday 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 $7.04 and last traded at $7.04. 10,227,757 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 15,262,311 shares. The stock had previously closed at $8.77.

Other analysts have also recently issued reports about the company. Bank of America began coverage on Intuitive Machines in a research note on Wednesday, February 5th. They set an "underperform" rating and a $16.00 target price for the company. 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 objective on the stock. Cantor Fitzgerald boosted their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Benchmark increased their target price on Intuitive Machines from $10.00 to $16.00 and gave the stock a "buy" rating in a report on Friday, November 15th. Finally, Canaccord Genuity Group cut their price target on Intuitive Machines from $26.00 to $22.00 and set a "buy" rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $16.38.

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Insiders Place Their Bets

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction that occurred 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 completion of 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 sale, the insider now directly owns 104,272 shares in the company, valued at $2,043,731.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 393,659 shares of company stock valued at $7,262,364 in the last three months. 73.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Machines

A number of large investors have recently added to or reduced their stakes in LUNR. Tealwood Asset Management Inc. increased its holdings in shares of Intuitive Machines by 4.5% in the fourth quarter. Tealwood Asset Management Inc. now owns 20,900 shares of the company's stock valued at $380,000 after purchasing an additional 900 shares during the last quarter. Invesco Ltd. boosted its position in shares of 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 acquiring an additional 1,026 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 purchasing an additional 1,566 shares during the period. Quarry LP acquired a new stake in shares of Intuitive Machines during the 4th quarter worth $44,000. Finally, Bank of New York Mellon Corp raised its position 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 in the last quarter. Institutional investors own 72.21% of the company's stock.

Intuitive Machines Stock Performance

The stock's fifty day moving average price is $18.42 and its two-hundred day moving average price is $12.77. The company has a market cap of $909.45 million, a P/E ratio of -2.20 and a beta of 1.01.

Intuitive Machines Company Profile

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.