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

Intuitive Machines, Inc. (NASDAQ:LUNR) shares 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 trading, a decline of 61% from the average session volume of 15,375,839 shares. The stock had previously closed at $6.78.

Other equities analysts have also issued reports about the company. 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 price target for the company. Roth Capital set a $20.00 target price on Intuitive Machines in a research report on Friday, March 7th. Canaccord Genuity Group reduced their price target on shares of Intuitive Machines from $26.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intuitive Machines in a research note on Tuesday, February 25th. They set a “hold” rating and a $18.00 price target on the stock. Finally, Benchmark lifted their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Intuitive Machines currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

Insider Buying and Selling

In other news, insider Steven Vontur sold 4,528 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 104,272 shares in the company, valued at approximately $2,043,731.20. This represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’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 value of $6,935,804.55. Following the sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 393,659 shares of company stock worth $7,262,364 over the last three months. 73.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds have recently bought and sold shares of the business. FORA Capital LLC purchased a new stake in shares of Intuitive Machines during the third quarter valued at $458,000. Geode Capital Management LLC lifted its holdings in Intuitive Machines by 31.2% during the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after buying an additional 222,136 shares in the last quarter. Van ECK Associates Corp purchased a new stake in Intuitive Machines in the 4th quarter valued at about $3,403,000. Entropy Technologies LP bought a new position in Intuitive Machines in the 4th quarter worth about $895,000. Finally, Spire Wealth Management purchased a new position in shares of Intuitive Machines during the fourth quarter worth approximately $469,000. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Stock Up 14.5 %

The stock has a market cap of $1.04 billion, a P/E ratio of -2.52 and a beta of 1.01. The company’s 50 day moving average price is $17.97 and its two-hundred day moving average price is $12.74.

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.