Intuitive Machines (NASDAQ:LUNR) Trading Down 3% on Analyst Downgrade

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) traded down 3% on Tuesday after Cantor Fitzgerald lowered their price target on the stock from $15.00 to $13.00. Cantor Fitzgerald currently has an overweight rating on the stock. Intuitive Machines traded as low as $8.90 and last traded at $8.95. 7,792,386 shares traded hands during mid-day trading, a decline of 49% from the average session volume of 15,281,672 shares. The stock had previously closed at $9.22.

LUNR has been the subject of several other reports. Roth Mkm cut their target price on shares of Intuitive Machines from $20.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft assumed coverage on Intuitive Machines in a research report on Tuesday, February 25th. They set a "hold" rating and a $18.00 price objective for the company. Roth Capital set a $20.00 price objective on Intuitive Machines in a research note on Friday, March 7th. Bank of America assumed coverage on Intuitive Machines in a research report on Wednesday, February 5th. They set an "underperform" rating and a $16.00 target price on the stock. Finally, Canaccord Genuity Group decreased their price target on Intuitive Machines from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, Intuitive Machines presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

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Insider Buying and Selling at Intuitive Machines

In other news, insider Steven Vontur sold 9,266 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $22.50, for a total value of $208,485.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business's 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 transaction, the director now directly owns 3,494,768 shares in the company, valued at $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 391,767 shares of company stock valued at $7,233,038 in the last three months. 73.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Intuitive Machines by 33.6% during the fourth quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company's stock worth $73,503,000 after acquiring an additional 1,017,706 shares in the last quarter. Two Sigma Investments LP purchased a new position in Intuitive Machines in the fourth quarter valued at about $33,255,000. Renaissance Technologies LLC increased its position in Intuitive Machines by 99.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company's stock worth $22,170,000 after purchasing an additional 609,118 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Intuitive Machines by 3,991.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company's stock worth $21,102,000 after purchasing an additional 1,133,581 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Intuitive Machines by 20.5% during the 4th 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.

Intuitive Machines Trading Down 2.4 %

The company has a fifty day moving average price of $15.28 and a 200-day moving average price of $12.92. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -2.74 and a beta of 1.01.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its earnings results on Tuesday, March 25th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.08) by $0.12. The business had revenue of $54.66 million during the quarter, compared to analyst estimates of $72.58 million. As a group, sell-side analysts predict that Intuitive Machines, Inc. will post 0.73 EPS for the current fiscal year.

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.