Intuitive Machines (NASDAQ:LUNR) Trading Down 3% Following Analyst Downgrade

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price fell 3% during mid-day trading on Tuesday after Cantor Fitzgerald lowered their price target on the stock from $15.00 to $13.00. Cantor Fitzgerald currently has an overweight rating on the stock. Intuitive Machines traded as low as $8.90 and last traded at $8.95. 7,792,386 shares changed hands during trading, a decline of 49% from the average session volume of 15,281,672 shares. The stock had previously closed at $9.22.

LUNR has been the subject of several other research reports. Roth Capital set a $20.00 price target on shares of Intuitive Machines in a research note on Friday, March 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intuitive Machines in a report on Tuesday, February 25th. They set a “hold” rating and a $18.00 price objective on the stock. Roth Mkm reduced their target price on shares of Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Bank of America started coverage on shares of Intuitive Machines in a report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price objective for the company. Finally, Canaccord Genuity Group lowered their target price on shares of Intuitive Machines from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Intuitive Machines presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Insider Activity at Intuitive Machines

In other news, insider Steven Vontur sold 4,528 shares of the firm’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the sale, the insider now owns 104,272 shares in the company, valued at approximately $2,043,731.20. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.35, for a total value of $6,935,804.55. Following the sale, the director now owns 3,494,768 shares in the company, valued at $64,128,992.80. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 392,713 shares of company stock valued at $7,250,066. Corporate insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds and other institutional investors have recently modified their holdings of LUNR. Vanguard Group Inc. lifted its position in Intuitive Machines by 33.6% in the 4th quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company’s stock worth $73,503,000 after buying an additional 1,017,706 shares during the last quarter. Two Sigma Investments LP purchased a new position in shares of Intuitive Machines during the fourth quarter worth approximately $33,255,000. Renaissance Technologies LLC raised its stake 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 in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of 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 worth $21,102,000 after acquiring an additional 1,133,581 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 191,733 shares in the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Machines Trading Down 3.8 %

The company has a market cap of $1.25 billion, a P/E ratio of -3.03 and a beta of 1.01. The company’s fifty day moving average is $16.06 and its 200 day moving average is $12.93.

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.