Intuitive Machines (NASDAQ:LUNR) Stock Price Down 8.9% – Here’s What Happened

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) traded down 8.9% during trading on Tuesday . The stock traded as low as $7.23 and last traded at $7.21. 3,806,440 shares were traded during trading, a decline of 67% from the average session volume of 11,536,097 shares. The stock had previously closed at $7.91.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Canaccord Genuity Group cut their target price on shares of Intuitive Machines from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Roth Capital set a $20.00 price target on shares of Intuitive Machines in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Intuitive Machines in a research report on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price target for the company. Roth Mkm reduced 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 report on Tuesday, March 11th. Finally, Bank of America began coverage on shares of Intuitive Machines in a research report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.38.

Intuitive Machines Stock Performance

The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -2.47 and a beta of 1.01. The company’s 50 day simple moving average is $16.67 and its two-hundred day simple moving average is $12.82.

Insider Buying and Selling at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction 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 transaction, the director now owns 3,494,768 shares in the company, valued at $64,128,992.80. This represents a 9.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven Vontur sold 9,266 shares of the stock in a transaction on 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 owns 98,656 shares in the company, valued at approximately $2,219,760. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 392,713 shares of company stock worth $7,250,066. 73.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Intuitive Machines by 33.6% during the 4th quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company’s stock worth $73,503,000 after purchasing an additional 1,017,706 shares during the last quarter. Two Sigma Investments LP acquired a new position in Intuitive Machines in the 4th quarter valued at $33,255,000. Renaissance Technologies LLC grew its stake in Intuitive Machines by 99.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company’s stock valued at $22,170,000 after buying an additional 609,118 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in Intuitive Machines by 3,991.5% in the 4th 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 last quarter. Finally, Geode Capital Management LLC grew its stake in Intuitive Machines by 20.5% in the 4th quarter. Geode Capital Management LLC now owns 1,125,005 shares of the company’s stock valued at $20,437,000 after buying an additional 191,733 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

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.