Intuitive Machines (NASDAQ:LUNR) Stock Price Down 7.1% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price was down 7.1% during trading on Monday . The stock traded as low as $7.45 and last traded at $7.50. Approximately 4,288,545 shares were traded 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 Upgrades and Downgrades

A number of brokerages have weighed in on LUNR. Benchmark reaffirmed a “buy” rating and issued a $16.00 price target on shares of Intuitive Machines in a research report on Tuesday, March 25th. Roth Capital set a $20.00 target price on Intuitive Machines in a research report on Friday, March 7th. Roth Mkm lowered their price target on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. Bank of America initiated coverage on shares of Intuitive Machines in a report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Intuitive Machines in a report on Tuesday, February 25th. They issued a “hold” rating and a $18.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Intuitive Machines presently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Intuitive Machines Trading Up 9.6 %

The firm has a market cap of $1.15 billion, a P/E ratio of -2.79 and a beta of 1.01. The company’s fifty day moving average price is $14.75 and its two-hundred day moving average price is $13.04.

Intuitive Machines (NASDAQ:LUNR) last announced its earnings results 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 during the quarter, compared to analyst estimates of $72.58 million. On average, analysts predict that Intuitive Machines, Inc. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, insider Steven Vontur sold 9,266 shares of Intuitive Machines stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $22.50, for a total transaction of $208,485.00. Following the transaction, the insider now directly owns 98,656 shares in the company, valued at approximately $2,219,760. The trade was a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds have recently modified their holdings of the business. Two Sigma Investments LP bought a new stake in Intuitive Machines during the 4th quarter worth approximately $33,255,000. D. E. Shaw & Co. Inc. boosted its holdings in shares of Intuitive Machines by 3,991.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company’s stock valued at $21,102,000 after buying an additional 1,133,581 shares during the period. Vanguard Group Inc. increased its position in shares of Intuitive Machines by 33.6% during the fourth quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company’s stock worth $73,503,000 after acquiring an additional 1,017,706 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of 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 acquiring an additional 609,118 shares during the period. Finally, Driehaus Capital Management LLC bought a new stake in Intuitive Machines in the 4th quarter valued at $9,133,000. Institutional investors and hedge funds 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.