Intuitive Machines (NASDAQ:LUNR) Trading Down 19.9% on Analyst Downgrade

Intuitive Machines, Inc. (NASDAQ:LUNR) was down 19.9% on Friday after Canaccord Genuity Group lowered their price target on the stock from $26.00 to $22.00. Canaccord Genuity Group currently has a buy rating on the stock. Intuitive Machines traded as low as $7.05 and last traded at $9.02. Approximately 32,169,258 shares were traded during mid-day trading, an increase of 116% from the average daily volume of 14,865,883 shares. The stock had previously closed at $11.26.

A number of other research analysts have also recently commented on LUNR. Benchmark increased their target price on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft assumed coverage on Intuitive Machines in a research report on Tuesday, February 25th. They issued a “hold” rating and a $18.00 target price for the company. 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 target price on the stock. Finally, Cantor Fitzgerald raised their price objective on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.57.

Insider Buying and Selling

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s 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 sale, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Steven Vontur sold 4,528 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total transaction of $88,748.80. Following the completion of the transaction, the insider now directly owns 104,272 shares of the company’s stock, valued at approximately $2,043,731.20. This represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 393,659 shares of company stock worth $7,262,364 in the last ninety days. 73.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP acquired a new stake in Intuitive Machines in the fourth quarter valued at approximately $44,000. Jones Financial Companies Lllp grew its stake in shares of Intuitive Machines by 751.3% in the 4th quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock valued at $70,000 after buying an additional 3,381 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of Intuitive Machines by 201.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock worth $90,000 after purchasing an additional 3,300 shares during the period. Ancora Advisors LLC acquired a new stake in shares of Intuitive Machines during the fourth quarter valued at about $91,000. Finally, Victory Capital Management Inc. purchased a new stake in Intuitive Machines in the fourth quarter valued at approximately $183,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Intuitive Machines Stock Performance

The company has a 50 day moving average of $18.86 and a 200-day moving average of $12.63. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -3.07 and a beta of 1.01.

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.