Intuitive Machines (NASDAQ:LUNR) Stock Price Down 2.5%

Intuitive Machines, Inc. (NASDAQ:LUNRGet Free Report) fell 2.5% during trading on Wednesday . The company traded as low as $5.91 and last traded at $6.19. 1,834,410 shares changed hands during trading, a decline of 81% from the average session volume of 9,523,845 shares. The stock had previously closed at $6.35.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LUNR shares. Benchmark reaffirmed a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a report on Friday, March 15th. Cantor Fitzgerald cut their price objective on shares of Intuitive Machines from $13.00 to $10.00 and set an “overweight” rating for the company in a report on Friday, March 22nd.

View Our Latest Stock Report on Intuitive Machines

Intuitive Machines Stock Performance

The business’s fifty day simple moving average is $5.58 and its 200-day simple moving average is $3.94. The firm has a market capitalization of $729.50 million, a PE ratio of 2.51 and a beta of 0.23.

Insider Activity at Intuitive Machines

In related news, major shareholder Guy Shanon sold 123,717 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $8.99, for a total value of $1,112,215.83. Following the completion of the transaction, the insider now directly owns 1,302,673 shares of the company’s stock, valued at $11,711,030.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 78.93% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of LUNR. CPMG Inc purchased a new position in Intuitive Machines during the first quarter worth $14,270,000. Nomura Holdings Inc. purchased a new position in Intuitive Machines during the third quarter worth $1,369,000. Hudson Bay Capital Management LP purchased a new position in Intuitive Machines during the first quarter worth $2,549,000. HGC Investment Management Inc. purchased a new position in Intuitive Machines during the first quarter worth $2,430,000. Finally, Vanguard Group Inc. boosted its stake in Intuitive Machines by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 171,823 shares of the company’s stock worth $439,000 after buying an additional 4,387 shares during the period. 72.21% of the stock is owned by hedge funds and other institutional investors.

About Intuitive Machines

(Get Free Report)

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 µNova, a lunar rocket-fueled drone, lunar surface rover services, fixed lunar surface services, rideshare delivery services, lunar access services, lunar orbit delivery services, and lunar data network services, as well as content sales and marketing.

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