Intuitive Machines (NASDAQ:LUNR) Shares Gap Down on Analyst Downgrade

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price gapped down prior to trading on Friday after Canaccord Genuity Group lowered their price target on the stock from $26.00 to $22.00. The stock had previously closed at $11.26, but opened at $7.26. Canaccord Genuity Group currently has a buy rating on the stock. Intuitive Machines shares last traded at $8.66, with a volume of 14,219,547 shares changing hands.

Several other research firms have also recently commented on LUNR. Bank of America assumed coverage on Intuitive Machines in a research note on Wednesday, February 5th. They set an “underperform” rating and a $16.00 target price for the company. Benchmark increased their price objective on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft assumed coverage on Intuitive Machines in a research note on Tuesday, February 25th. They set a “hold” rating and a $18.00 price objective on the stock. Finally, Cantor Fitzgerald increased their price target 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $15.57.

Insider Activity

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was 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 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 SEC, which can be accessed through the SEC website. Also, insider Steven Vontur sold 9,266 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $22.50, for a total value of $208,485.00. Following the completion of the transaction, the insider now directly owns 98,656 shares in the company, valued at $2,219,760. This trade represents a 8.59 % 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 valued at $7,262,364 in the last ninety days. Corporate insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds have recently bought and sold shares of the business. PharVision Advisers LLC purchased a new stake in shares of Intuitive Machines during the 4th quarter worth $185,000. Voloridge Investment Management LLC acquired a new stake in Intuitive Machines during the fourth quarter worth about $3,768,000. Soviero Asset Management LP grew its holdings in Intuitive Machines by 65.0% during the fourth quarter. Soviero Asset Management LP now owns 330,000 shares of the company’s stock worth $5,993,000 after acquiring an additional 130,000 shares during the period. Two Sigma Advisers LP acquired a new stake in Intuitive Machines in the fourth quarter valued at approximately $4,971,000. Finally, Two Sigma Investments LP acquired a new stake in Intuitive Machines in the fourth quarter valued at approximately $33,255,000. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Stock Down 22.1 %

The firm has a market cap of $1.23 billion, a PE ratio of -2.98 and a beta of 1.01. The firm has a 50-day moving average price of $18.67 and a two-hundred day moving average price of $12.66.

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.