Intuitive Machines (NASDAQ:LUNR) Shares Down 9% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price traded down 9% on Friday . The stock traded as low as $18.02 and last traded at $17.94. 7,569,237 shares traded hands during trading, a decline of 44% from the average session volume of 13,527,283 shares. The stock had previously closed at $19.72.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LUNR shares. Bank of America started coverage on shares of Intuitive Machines in a research note on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price target on the stock. Cantor Fitzgerald lifted their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Benchmark lifted their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Canaccord Genuity Group lifted their price target on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $15.83.

Intuitive Machines Price Performance

The firm has a market cap of $2.54 billion, a PE ratio of -6.14 and a beta of 0.92. The stock’s fifty day moving average price is $18.79 and its 200-day moving average price is $11.85.

Insider Transactions at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Steven Vontur sold 4,528 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the completion of the sale, the insider now directly owns 104,272 shares of the company’s stock, valued at $2,043,731.20. This represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 771,632 shares of company stock valued at $12,947,078 over the last 90 days. 73.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds have recently modified their holdings of the company. Quarry LP acquired a new position in Intuitive Machines in the fourth quarter valued at about $44,000. Jones Financial Companies Lllp lifted its position in Intuitive Machines by 751.3% in the fourth quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock valued at $70,000 after buying an additional 3,381 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in Intuitive Machines by 201.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock valued at $90,000 after buying an additional 3,300 shares during the last quarter. Ancora Advisors LLC acquired a new position in Intuitive Machines in the fourth quarter valued at about $91,000. Finally, Victory Capital Management Inc. acquired a new position in Intuitive Machines in the fourth quarter valued at about $183,000. Hedge funds and other institutional investors 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.