Intuitive Machines (NASDAQ:LUNR) Trading Down 6% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price dropped 6% on Monday . The company traded as low as $17.63 and last traded at $17.8470. Approximately 3,841,797 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 12,232,520 shares. The stock had previously closed at $18.99.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Cantor Fitzgerald restated an “overweight” rating on shares of Intuitive Machines in a research note on Wednesday, December 3rd. Bank of America increased their price target on Intuitive Machines from $8.50 to $9.50 and gave the stock an “underperform” rating in a research note on Wednesday, November 19th. Deutsche Bank Aktiengesellschaft set a $18.00 price target on Intuitive Machines and gave the company a “buy” rating in a research report on Friday, October 17th. Stifel Nicolaus set a $20.00 target price on shares of Intuitive Machines and gave the stock a “hold” rating in a research report on Friday, January 9th. Finally, Zacks Research upgraded Intuitive Machines from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.27.

Intuitive Machines Price Performance

The business has a 50 day moving average of $15.50 and a 200 day moving average of $12.22. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of -7.15 and a beta of 1.37.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Price Crain II sold 24,155 shares of Intuitive Machines stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $20.04, for a total value of $484,066.20. Following the sale, the senior vice president owned 298,435 shares of the company’s stock, valued at $5,980,637.40. This trade represents a 7.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Stephen J. Altemus sold 58,828 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The shares were sold at an average price of $20.03, for a total value of $1,178,324.84. Following the completion of the sale, the chief executive officer owned 1,026,402 shares in the company, valued at $20,558,832.06. The trade was a 5.42% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,550,000 shares of company stock valued at $59,924,826 in the last three months. 39.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LUNR. First Trust Advisors LP raised its position in shares of Intuitive Machines by 3,582.9% in the third quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock valued at $25,809,000 after purchasing an additional 2,386,688 shares during the period. Jump Financial LLC boosted its stake in shares of Intuitive Machines by 5,262.9% in the third quarter. Jump Financial LLC now owns 1,339,872 shares of the company’s stock valued at $14,095,000 after buying an additional 1,314,888 shares during the period. Geode Capital Management LLC increased its stake in Intuitive Machines by 78.6% during the 2nd quarter. Geode Capital Management LLC now owns 2,593,135 shares of the company’s stock worth $28,191,000 after acquiring an additional 1,141,454 shares during the period. Voya Investment Management LLC grew its holdings in shares of Intuitive Machines by 56.1% during the 3rd quarter. Voya Investment Management LLC now owns 2,656,684 shares of the company’s stock worth $27,948,000 after purchasing an additional 954,778 shares in the last quarter. Finally, ARK Investment Management LLC increased its holdings in Intuitive Machines by 78.9% in the 3rd quarter. ARK Investment Management LLC now owns 2,073,233 shares of the company’s stock valued at $21,810,000 after buying an additional 914,458 shares during the period. 72.21% of the stock is currently owned by 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.