Intuitive Machines (NASDAQ:LUNR) Stock Price Down 9% – What’s Next?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) fell 9% during trading on Friday . The stock traded as low as $18.02 and last traded at $17.94. 7,569,237 shares changed hands during trading, a decline of 44% from the average session volume of 13,527,283 shares. The stock had previously closed at $19.72.

Wall Street Analyst Weigh In

Several research firms have commented on LUNR. Cantor Fitzgerald increased their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Bank of America began coverage on shares of Intuitive Machines in a research report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price objective for the company. Canaccord Genuity Group increased their price objective on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Benchmark increased their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Intuitive Machines has a consensus rating of “Moderate Buy” and a consensus target price of $15.83.

Intuitive Machines Stock Performance

The company’s fifty day moving average price is $18.92 and its 200-day moving average price is $12.01. The stock has a market cap of $2.54 billion, a P/E ratio of -6.15 and a beta of 0.92.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, insider Steven Vontur sold 9,266 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $22.50, for a total transaction of $208,485.00. Following the transaction, the insider now owns 98,656 shares of the company’s stock, valued at approximately $2,219,760. This trade represents a 8.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $6,935,804.55. Following the transaction, the director now directly owns 3,494,768 shares in the company, valued at $64,128,992.80. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 771,632 shares of company stock valued at $12,947,078. Company insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP purchased a new position in Intuitive Machines during the 4th quarter valued at about $44,000. Jones Financial Companies Lllp grew its position in shares of Intuitive Machines by 751.3% in the 4th quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock worth $70,000 after buying an additional 3,381 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Intuitive Machines in the 3rd quarter worth approximately $85,000. Steward Partners Investment Advisory LLC grew its position in shares of Intuitive Machines by 201.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock worth $90,000 after buying an additional 3,300 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new position in shares of Intuitive Machines in the 4th quarter worth approximately $91,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

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.