Intuitive Machines, Inc. (NASDAQ:LUNR – Get Free Report)’s share price was up 7% during trading on Tuesday . The company traded as high as $6.75 and last traded at $6.58. Approximately 3,103,580 shares were traded during trading, a decline of 68% from the average daily volume of 9,797,288 shares. The stock had previously closed at $6.15.
Analyst Ratings Changes
A number of equities analysts have commented on LUNR shares. Benchmark restated a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a research report on Friday, March 15th. Cantor Fitzgerald cut their price objective on shares of Intuitive Machines from $13.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd.
Check Out Our Latest Analysis on LUNR
Intuitive Machines Stock Performance
Insider Activity
In other news, major shareholder Guy Shanon sold 123,717 shares of the stock in a transaction dated Thursday, February 22nd. The shares were 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 approximately $11,711,030.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 78.93% of the company’s stock.
Hedge Funds Weigh In On Intuitive Machines
Hedge funds have recently added to or reduced their stakes in the business. Hemington Wealth Management purchased a new position in Intuitive Machines during the 4th quarter valued at about $26,000. Cypress Financial Planning LLC purchased a new position in Intuitive Machines during the 3rd quarter valued at about $39,000. Virtu Financial LLC purchased a new position in Intuitive Machines during the 4th quarter valued at about $81,000. State Street Corp purchased a new position in Intuitive Machines during the 2nd quarter valued at about $111,000. Finally, Northern Trust Corp increased its holdings in Intuitive Machines by 179.1% during the 4th quarter. Northern Trust Corp now owns 47,765 shares of the company’s stock valued at $122,000 after acquiring an additional 30,649 shares in the last quarter. 72.21% of the stock is currently 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.
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