Intuitive Machines (NASDAQ:LUNR) Shares Down 7.1% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares were down 7.1% during trading on Monday . The stock traded as low as $11.93 and last traded at $11.1210. Approximately 699,722 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 9,253,594 shares. The stock had previously closed at $11.97.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Canaccord Genuity Group dropped their price target on shares of Intuitive Machines from $18.50 to $15.50 and set a “buy” rating for the company in a research report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $18.00 price objective on shares of Intuitive Machines and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, UBS Group reissued a “buy” rating on shares of Intuitive Machines in a research report on Monday, August 18th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.50.

Intuitive Machines Stock Down 6.6%

The stock has a 50 day simple moving average of $10.93 and a 200 day simple moving average of $10.55. The company has a market cap of $2.01 billion, a price-to-earnings ratio of -4.54 and a beta of 1.44.

Insiders Place Their Bets

In other news, Director Michael Blitzer acquired 141,080 shares of the stock in a transaction on Wednesday, November 12th. The stock was bought at an average price of $9.27 per share, with a total value of $1,307,811.60. Following the completion of the transaction, the director directly owned 1,831,248 shares of the company’s stock, valued at $16,975,668.96. The trade was a 8.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 39.75% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Intuitive Machines by 27.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 140,208 shares of the company’s stock valued at $1,045,000 after acquiring an additional 30,447 shares during the last quarter. Swiss National Bank bought a new stake in shares of Intuitive Machines in the 1st quarter worth about $1,203,000. ARK Investment Management LLC increased its position in shares of Intuitive Machines by 56.1% in the 2nd quarter. ARK Investment Management LLC now owns 1,158,775 shares of the company’s stock worth $12,596,000 after purchasing an additional 416,337 shares during the last quarter. Jump Financial LLC acquired a new stake in shares of Intuitive Machines in the 1st quarter valued at about $1,900,000. Finally, Ensign Peak Advisors Inc bought a new position in shares of Intuitive Machines during the second quarter worth about $373,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

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.