Intuitive Machines (NASDAQ:LUNR) Trading Down 0.6% Following Analyst Downgrade

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) traded down 0.6% during trading on Tuesday after Roth Mkm lowered their price target on the stock from $20.00 to $12.00. Roth Mkm currently has a buy rating on the stock. Intuitive Machines traded as low as $6.36 and last traded at $6.74. 6,003,749 shares were traded during mid-day trading, a decline of 61% from the average session volume of 15,375,839 shares. The stock had previously closed at $6.78.

A number of other equities analysts also recently commented on the company. Canaccord Genuity Group decreased their target price on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Benchmark boosted their price objective on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Roth Capital set a $20.00 price objective on Intuitive Machines in a research report on Friday. Deutsche Bank Aktiengesellschaft began coverage on Intuitive Machines in a research report on Tuesday, February 25th. They set a “hold” rating and a $18.00 price objective for the company. Finally, Cantor Fitzgerald boosted their price objective on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

Insider Buying and Selling

In other Intuitive Machines news, insider Steven Vontur sold 4,528 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total value of $88,748.80. Following the transaction, the insider now owns 104,272 shares of the company’s stock, valued at approximately $2,043,731.20. This represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now directly owns 3,494,768 shares in the company, valued at $64,128,992.80. This represents a 9.76 % 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 over the last quarter. Corporate insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Quarry LP bought a new position in shares of Intuitive Machines in the fourth quarter valued at $44,000. Jones Financial Companies Lllp increased its holdings in shares of Intuitive Machines by 751.3% in the fourth 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 in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Intuitive Machines in the third quarter valued at $85,000. Steward Partners Investment Advisory LLC increased its holdings in shares of Intuitive Machines by 201.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock valued at $90,000 after buying an additional 3,300 shares in the last quarter. Finally, Ancora Advisors LLC bought a new position in shares of Intuitive Machines in the fourth quarter valued at $91,000. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Stock Performance

The firm’s 50 day simple moving average is $18.19 and its 200-day simple moving average is $12.78. The company has a market capitalization of $909.45 million, a price-to-earnings ratio of -2.20 and a beta of 1.01.

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.