Intuitive Machines (NASDAQ:LUNR) Stock Price Down 16.4% – Here’s What Happened

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) dropped 16.4% on Wednesday . The company traded as low as $15.61 and last traded at $15.7960. Approximately 9,533,391 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 10,634,745 shares. The stock had previously closed at $18.90.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Intuitive Machines in a research report on Wednesday, December 3rd. Zacks Research upgraded shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. Canaccord Genuity Group increased their price objective on shares of Intuitive Machines from $15.50 to $22.50 and gave the stock a “buy” rating in a research note on Monday, January 12th. Roth Mkm reissued a “buy” rating on shares of Intuitive Machines in a report on Wednesday. Finally, Stifel Nicolaus set a $20.00 price target on shares of Intuitive Machines and gave the company a “hold” rating in a report on Friday, January 9th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.27.

Intuitive Machines Stock Performance

The firm’s 50 day moving average is $18.12 and its 200-day moving average is $13.02. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of -6.67 and a beta of 1.37.

Insider Activity

In other Intuitive Machines news, SVP Timothy Price Crain II sold 23,226 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $17.44, for a total value of $405,061.44. Following the sale, the senior vice president directly owned 359,726 shares of the company’s stock, valued at approximately $6,273,621.44. This trade represents a 6.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Vontur sold 4,343 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $17.44, for a total value of $75,741.92. Following the completion of the sale, the insider directly owned 117,047 shares in the company, valued at approximately $2,041,299.68. The trade was a 3.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 3,689,913 shares of company stock valued at $62,240,781. Insiders own 39.75% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in LUNR. International Assets Investment Management LLC acquired a new position in Intuitive Machines during the fourth quarter worth $28,000. Golden State Wealth Management LLC increased its stake in shares of Intuitive Machines by 180.0% during the second quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company’s stock worth $30,000 after purchasing an additional 1,800 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Intuitive Machines by 41.5% during the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after purchasing an additional 781 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Intuitive Machines by 63.2% during the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after purchasing an additional 1,016 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Intuitive Machines by 35.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company’s stock valued at $47,000 after buying an additional 1,127 shares in the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.