Intuitive Machines (NASDAQ:LUNR) Trading Down 7.1% - Here's Why

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) dropped 7.1% during mid-day trading on Monday . The company traded as low as $7.45 and last traded at $7.50. Approximately 4,288,545 shares changed hands during trading, a decline of 64% from the average daily volume of 11,766,959 shares. The stock had previously closed at $8.07.

Analyst Ratings Changes

A number of brokerages recently weighed in on LUNR. Roth Capital set a $20.00 price target on shares of Intuitive Machines in a report on Friday, March 7th. Roth Mkm dropped their target price on Intuitive Machines from $20.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, March 11th. B. Riley reiterated a "buy" rating on shares of Intuitive Machines in a report on Tuesday, March 25th. Benchmark reiterated a "buy" rating and issued a $16.00 price objective on shares of Intuitive Machines in a research report on Tuesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Intuitive Machines in a research note on Tuesday, February 25th. They issued a "hold" rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Intuitive Machines has a consensus rating of "Moderate Buy" and a consensus price target of $16.00.

Intuitive Machines Stock Down 8.9 %

The company's fifty day simple moving average is $14.17 and its two-hundred day simple moving average is $12.97. The company has a market capitalization of $964.18 million, a price-to-earnings ratio of -2.34 and a beta of 1.33.

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Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.12. The business had revenue of $54.66 million for the quarter, compared to analyst estimates of $72.58 million. Equities research analysts expect that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.

Insider Activity

In other Intuitive Machines news, insider Steven Vontur sold 4,528 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were 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 approximately $2,043,731.20. This trade represents a 4.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 73.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

Several large investors have recently made changes to their positions in LUNR. Two Sigma Investments LP acquired a new position in Intuitive Machines during the 4th quarter worth approximately $33,255,000. D. E. Shaw & Co. Inc. lifted its stake in Intuitive Machines by 3,991.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company's stock valued at $21,102,000 after purchasing an additional 1,133,581 shares during the last quarter. Vanguard Group Inc. lifted 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 valued at $73,503,000 after purchasing an additional 1,017,706 shares during the last quarter. Renaissance Technologies LLC increased its position in 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 last quarter. Finally, Driehaus Capital Management LLC acquired a new position in Intuitive Machines during the fourth quarter worth approximately $9,133,000. Institutional investors own 72.21% of the company's stock.

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.