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

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price fell 3% during trading 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 were traded during trading, a decline of 49% from the average session volume of 15,281,672 shares. The stock had previously closed at $9.22.

A number of other brokerages also recently issued reports on LUNR. Benchmark reissued a “buy” rating and set a $16.00 price objective on shares of Intuitive Machines in a research report on Tuesday. Deutsche Bank Aktiengesellschaft began coverage on shares of Intuitive Machines in a research report on Tuesday, February 25th. They set a “hold” rating and a $18.00 price target on the stock. Roth Mkm decreased their price target 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. Bank of America started coverage on Intuitive Machines in a research report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price objective on the stock. Finally, Roth Capital set a $20.00 target price on Intuitive Machines in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Intuitive Machines currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Insider Buying and Selling

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines 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 completion of the transaction, the director now directly owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. This trade represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Steven Vontur sold 4,528 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total value of $88,748.80. Following the completion of the sale, the insider now directly owns 104,272 shares in the company, valued at approximately $2,043,731.20. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 392,713 shares of company stock valued at $7,250,066 over the last quarter. Corporate insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently modified their holdings of the stock. FORA Capital LLC purchased a new stake in Intuitive Machines during the 3rd quarter valued at about $458,000. Geode Capital Management LLC lifted its stake in shares of Intuitive Machines by 31.2% in the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after buying an additional 222,136 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of Intuitive Machines during the fourth quarter valued at approximately $3,403,000. Entropy Technologies LP bought a new stake in shares of Intuitive Machines during the fourth quarter valued at approximately $895,000. Finally, Spire Wealth Management purchased a new position in Intuitive Machines in the 4th quarter worth approximately $469,000. 72.21% of the stock is currently owned by institutional investors.

Intuitive Machines Trading Down 3.8 %

The company has a market capitalization of $1.25 billion, a PE ratio of -3.03 and a beta of 1.01. The business’s fifty day moving average is $16.06 and its two-hundred day moving average is $12.93.

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.