Intuitive Machines (NASDAQ:LUNR) Trading Down 8.9% – What’s Next?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) were down 8.9% on Tuesday . The stock traded as low as $7.23 and last traded at $7.21. Approximately 3,806,440 shares were traded during trading, a decline of 67% from the average daily volume of 11,536,097 shares. The stock had previously closed at $7.91.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on LUNR shares. Roth Capital set a $20.00 price objective on Intuitive Machines in a research report on Friday, March 7th. Bank of America started coverage on Intuitive Machines in a research report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price objective on the stock. Roth Mkm lowered their price objective on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Canaccord Genuity Group lowered their price objective on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Intuitive Machines in a research note on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price target for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.38.

Intuitive Machines Price Performance

The stock has a 50-day simple moving average of $17.15 and a 200-day simple moving average of $12.85. The stock has a market cap of $1.02 billion, a P/E ratio of -2.47 and a beta of 1.01.

Insider Buying and Selling at Intuitive Machines

In other news, insider Steven Vontur sold 9,266 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $22.50, for a total transaction of $208,485.00. Following the sale, the insider now directly owns 98,656 shares in the company, valued at approximately $2,219,760. The trade was a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.35, for a total value of $6,935,804.55. Following the sale, the director now owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 392,713 shares of company stock worth $7,250,066 over the last 90 days. Insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds and other institutional investors have recently made changes to their positions in LUNR. LMR Partners LLP acquired a new position in shares of Intuitive Machines in the third quarter worth approximately $110,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Intuitive Machines by 44.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock worth $836,000 after acquiring an additional 32,015 shares during the period. Penserra Capital Management LLC lifted its stake in shares of Intuitive Machines by 16.5% in the third quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock worth $1,190,000 after acquiring an additional 20,916 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Intuitive Machines in the third quarter worth approximately $85,000. Finally, MetLife Investment Management LLC acquired a new position in shares of Intuitive Machines in the third quarter worth approximately $138,000. 72.21% of the stock is owned by institutional investors and hedge funds.

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 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.