Intuitive Machines (NASDAQ:LUNR) Stock Price Down 10.3% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR) shares fell 10.3% on Wednesday . The stock traded as low as $17.08 and last traded at $16.71. 2,205,858 shares traded hands during trading, a decline of 81% from the average session volume of 11,555,171 shares. The stock had previously closed at $18.62.

Analysts Set New Price Targets

A number of research firms recently weighed in on LUNR. Canaccord Genuity Group upped their price target on Intuitive Machines from $15.50 to $22.50 and gave the stock a “buy” rating in a report on Monday, January 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a research report on Thursday, January 22nd. B. Riley Financial raised their price objective on shares of Intuitive Machines from $14.00 to $20.00 and gave the stock a “buy” rating in a research note on Monday, December 22nd. Stifel Nicolaus set a $20.00 target price on Intuitive Machines and gave the company a “hold” rating in a report on Friday, January 9th. Finally, Deutsche Bank Aktiengesellschaft set a $18.00 price target on Intuitive Machines and gave the stock a “buy” rating in a report on Friday, October 17th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.27.

Intuitive Machines Stock Down 10.2%

The company has a 50 day simple moving average of $16.68 and a 200 day simple moving average of $12.49. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of -6.77 and a beta of 1.37.

Insider Buying and Selling at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 200,000 shares of the firm’s stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $16.04, for a total value of $3,208,000.00. Following the transaction, the senior vice president owned 298,435 shares of the company’s stock, valued at approximately $4,786,897.40. This trade represents a 40.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stephen J. Altemus sold 1,958,593 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $15.77, for a total value of $30,887,011.61. Following the completion of the sale, the chief executive officer owned 1,026,402 shares of the company’s stock, valued at approximately $16,186,359.54. This trade represents a 65.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 3,550,000 shares of company stock valued at $59,924,826 over the last ninety days. Corporate insiders own 39.75% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC acquired a new stake in Intuitive Machines during the 4th quarter valued at $28,000. Larson Financial Group LLC grew its stake in shares of Intuitive Machines by 63.2% during the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock valued at $43,000 after acquiring an additional 1,016 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Intuitive Machines by 41.5% during the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after acquiring an additional 781 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Intuitive Machines by 180.0% in the second quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company’s stock worth $30,000 after acquiring an additional 1,800 shares in the last quarter. Finally, CWM LLC boosted its holdings in Intuitive Machines by 406.4% in the fourth quarter. CWM LLC now owns 2,912 shares of the company’s stock valued at $47,000 after purchasing an additional 2,337 shares during the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

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.