Intuitive Machines (NASDAQ:LUNR) Shares Down 6% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price dropped 6% during trading on Monday . The stock traded as low as $17.63 and last traded at $17.8470. Approximately 3,841,797 shares changed hands during trading, a decline of 69% from the average daily volume of 12,232,520 shares. The stock had previously closed at $18.99.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Intuitive Machines in a research note on Wednesday, December 3rd. Deutsche Bank Aktiengesellschaft set a $18.00 price objective on shares of Intuitive Machines and gave the company a “buy” rating in a report on Friday, October 17th. Zacks Research upgraded shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Bank of America lifted their target price on shares of Intuitive Machines from $8.50 to $9.50 and gave the stock an “underperform” rating in a research report on Wednesday, November 19th. Finally, Canaccord Genuity Group increased their price target on Intuitive Machines from $15.50 to $22.50 and gave the company a “buy” rating in a report on Monday, January 12th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, Intuitive Machines presently has an average rating of “Moderate Buy” and a consensus price target of $17.27.

Intuitive Machines Stock Down 15.3%

The stock has a market cap of $2.99 billion, a P/E ratio of -6.72 and a beta of 1.37. The firm has a 50 day moving average price of $16.03 and a 200 day moving average price of $12.34.

Insider Activity at Intuitive Machines

In related news, CEO Stephen J. Altemus sold 1,958,593 shares of Intuitive Machines stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $15.77, for a total transaction of $30,887,011.61. Following the sale, the chief executive officer owned 1,026,402 shares of the company’s stock, valued at approximately $16,186,359.54. This trade represents a 65.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Timothy Price Crain II sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $16.04, for a total value of $3,208,000.00. Following the completion of the transaction, the senior vice president directly owned 298,435 shares in the company, valued at approximately $4,786,897.40. This represents a 40.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 3,550,000 shares of company stock worth $59,924,826. 39.75% of the stock is owned by corporate insiders.

Institutional Trading of Intuitive Machines

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC purchased a new stake in shares of Intuitive Machines in the fourth quarter worth about $28,000. GAMMA Investing LLC increased its stake in Intuitive Machines by 41.5% in the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after acquiring an additional 781 shares during the last quarter. Golden State Wealth Management LLC increased its stake in Intuitive Machines by 180.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company’s stock worth $30,000 after acquiring an additional 1,800 shares during the last quarter. CWM LLC raised its holdings in shares of Intuitive Machines by 406.4% during the 4th quarter. CWM LLC now owns 2,912 shares of the company’s stock worth $47,000 after acquiring an additional 2,337 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Intuitive Machines by 35.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company’s stock valued at $47,000 after acquiring an additional 1,127 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors.

About Intuitive Machines

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.