Intuitive Machines (NASDAQ:LUNR) Stock Price Down 6.6% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price fell 6.6% during mid-day trading on Tuesday . The company traded as low as $18.47 and last traded at $18.61. 5,703,119 shares were traded during mid-day trading, a decline of 59% from the average session volume of 13,798,712 shares. The stock had previously closed at $19.93.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LUNR. Benchmark boosted their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Cantor Fitzgerald raised their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. 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 target price on the stock. Finally, Canaccord Genuity Group upped their target price on Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.83.

Intuitive Machines Stock Down 9.5 %

The firm has a 50 day simple moving average of $17.68 and a two-hundred day simple moving average of $11.09. The stock has a market capitalization of $2.53 billion, a P/E ratio of -6.16 and a beta of 0.92.

Insiders Place Their Bets

In other Intuitive Machines news, CEO Stephen J. Altemus sold 138,568 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $11.10, for a total value of $1,538,104.80. Following the completion of the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at approximately $10,111,200.90. This represents a 13.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $208,485.00. Following the transaction, the insider now directly owns 98,656 shares in the company, valued at $2,219,760. The trade was a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,305,672 shares of company stock worth $19,236,434 over the last three months. Insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in Intuitive Machines by 31.2% in the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after buying an additional 222,136 shares during the period. State Street Corp grew its stake in Intuitive Machines by 1.3% during the third quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after purchasing an additional 7,538 shares during the period. Van ECK Associates Corp acquired a new stake in Intuitive Machines during the fourth quarter worth approximately $3,403,000. Penserra Capital Management LLC lifted its position in shares of Intuitive Machines by 16.5% during the 3rd quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock valued at $1,190,000 after acquiring an additional 20,916 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Intuitive Machines during the 4th quarter valued at $2,361,000. 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.