Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares dropped 2.9% during mid-day trading on Monday . The company traded as low as $18.50 and last traded at $18.51. Approximately 9,838,860 shares changed hands during mid-day trading, a decline of 35% from the average daily volume of 15,072,917 shares. The stock had previously closed at $19.06.
Wall Street Analyst Weigh In
Several research firms have commented on LUNR. Canaccord Genuity Group upped their price objective on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a "buy" rating in a report on Wednesday, January 8th. Benchmark upped their target price on Intuitive Machines from $10.00 to $16.00 and gave the company a "buy" rating in a research report on Friday, November 15th. Finally, Cantor Fitzgerald increased their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $15.80.
Check Out Our Latest Report on Intuitive Machines
Intuitive Machines Stock Performance
The firm has a market cap of $2.60 billion, a price-to-earnings ratio of -6.30 and a beta of 0.90. The business has a fifty day simple moving average of $15.13 and a 200-day simple moving average of $9.18.
Insider Activity at Intuitive Machines
In related news, CEO Stephen J. Altemus sold 61,432 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $11.00, for a total value of $675,752.00. Following the sale, the chief executive officer now directly owns 910,919 shares in the company, valued at $10,020,109. This represents a 6.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 3,494,768 shares of the company's stock, valued at $64,128,992.80. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,609,820 shares of company stock worth $21,709,343 in the last quarter. 73.68% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in LUNR. Geode Capital Management LLC increased its holdings in Intuitive Machines by 31.2% in the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company's stock worth $7,514,000 after purchasing an additional 222,136 shares in the last quarter. State Street Corp increased its stake in shares of Intuitive Machines by 1.3% in the 3rd quarter. State Street Corp now owns 576,051 shares of the company's stock valued at $4,637,000 after acquiring an additional 7,538 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Intuitive Machines during the 2nd quarter valued at $536,000. Penserra Capital Management LLC boosted its stake in Intuitive Machines by 16.5% during the third quarter. Penserra Capital Management LLC now owns 147,857 shares of the company's stock worth $1,190,000 after acquiring an additional 20,916 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Intuitive Machines by 44.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company's stock worth $836,000 after acquiring an additional 32,015 shares in the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.
Intuitive Machines Company Profile
(
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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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