Intuitive Machines (NASDAQ:LUNR) Trading Down 6.7% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNRGet Free Report)’s stock price was down 6.7% on Monday . The company traded as low as $11.56 and last traded at $11.59. Approximately 6,013,347 shares changed hands during trading, a decline of 36% from the average daily volume of 9,456,761 shares. The stock had previously closed at $12.42.

Analysts Set New Price Targets

Several research analysts recently commented on LUNR shares. Cantor Fitzgerald lifted their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday. Canaccord Genuity Group increased their target price on shares of Intuitive Machines from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Friday. B. Riley boosted their price target on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Benchmark increased their price objective on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday. Finally, Roth Mkm reissued a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Intuitive Machines currently has an average rating of “Buy” and an average price target of $13.10.

Get Our Latest Report on LUNR

Intuitive Machines Trading Down 2.2 %

The company has a market cap of $1.56 billion, a PE ratio of -3.88 and a beta of 0.35. The stock has a 50 day moving average price of $8.02 and a 200 day moving average price of $5.72.

Insider Activity

In other news, SVP Timothy Price Crain II sold 400,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total value of $4,840,000.00. Following the sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at $4,390,001. The trade was a 52.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Steven Vontur sold 10,274 shares of Intuitive Machines stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $5.58, for a total value of $57,328.92. Following the transaction, the chief financial officer now owns 117,500 shares of the company’s stock, valued at $655,650. The trade was a 8.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,763,571 shares of company stock worth $38,671,383. Corporate insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Several large investors have recently modified their holdings of LUNR. Geode Capital Management LLC raised its holdings in Intuitive Machines by 31.2% in the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after buying an additional 222,136 shares during the last quarter. Savoie Capital LLC bought a new stake in shares of Intuitive Machines during the third quarter valued at approximately $112,000. Barclays PLC raised its holdings in Intuitive Machines by 275.2% in the 3rd quarter. Barclays PLC now owns 37,323 shares of the company’s stock worth $300,000 after acquiring an additional 27,376 shares during the last quarter. State Street Corp boosted its stake in Intuitive Machines by 1.3% during the 3rd quarter. State Street Corp now owns 576,051 shares of the company’s stock valued at $4,637,000 after purchasing an additional 7,538 shares during the last quarter. Finally, Stifel Financial Corp bought a new stake in shares of Intuitive Machines in the 3rd quarter worth $525,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

(Get Free Report)

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.

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