Intuitive Machines (NASDAQ:LUNR) Stock Price Down 8%

Intuitive Machines, Inc. (NASDAQ:LUNR) shares traded down 8% during mid-day trading on Thursday . The stock traded as low as $6.26 and last traded at $6.33. 2,832,191 shares changed hands during trading, a decline of 71% from the average session volume of 9,753,712 shares. The stock had previously closed at $6.88.

Analyst Ratings Changes

LUNR has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research report on Friday, March 15th. Cantor Fitzgerald cut their target price on Intuitive Machines from $13.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd.

Intuitive Machines Stock Down 9.2 %

The company has a market cap of $574.63 million, a PE ratio of 2.56 and a beta of 0.22. The firm has a fifty day simple moving average of $5.29 and a 200-day simple moving average of $3.89.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, major shareholder Guy Shanon sold 123,717 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $8.99, for a total value of $1,112,215.83. Following the completion of the transaction, the insider now owns 1,302,673 shares in the company, valued at $11,711,030.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 78.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds have recently bought and sold shares of the company. Polar Asset Management Partners Inc. acquired a new position in Intuitive Machines in the first quarter valued at $1,620,000. CPMG Inc bought a new position in shares of Intuitive Machines in the first quarter worth $14,270,000. Geode Capital Management LLC bought a new stake in shares of Intuitive Machines during the first quarter valued at about $572,000. HGC Investment Management Inc. acquired a new stake in shares of Intuitive Machines in the 1st quarter worth approximately $2,430,000. Finally, Hudson Bay Capital Management LP acquired a new stake in Intuitive Machines in the first quarter worth approximately $2,549,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

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 µNova, a lunar rocket-fueled drone, lunar surface rover services, fixed lunar surface services, rideshare delivery services, lunar access services, lunar orbit delivery services, and lunar data network services, as well as content sales and marketing.