Intuitive Machines (NASDAQ:LUNR) Trading Down 16.4% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares were down 16.4% during mid-day trading on Wednesday . The company traded as low as $15.61 and last traded at $15.7960. Approximately 9,533,391 shares changed hands during mid-day trading, a decline of 10% from the average daily volume of 10,634,745 shares. The stock had previously closed at $18.90.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Roth Mkm reissued a “buy” rating on shares of Intuitive Machines in a report on Tuesday, November 4th. Stifel Nicolaus set a $20.00 target price on Intuitive Machines and gave the stock a “hold” rating in a research report on Friday, January 9th. Canaccord Genuity Group upped their target price on Intuitive Machines from $15.50 to $22.50 and gave the company a “buy” rating in a research report on Monday, January 12th. Cantor Fitzgerald restated an “overweight” rating on shares of Intuitive Machines in a research note on Wednesday, December 3rd. Finally, Zacks Research upgraded Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.27.

Intuitive Machines Stock Down 14.2%

The company has a fifty day moving average of $17.84 and a two-hundred day moving average of $12.92. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of -6.55 and a beta of 1.37.

Insider Activity

In other news, SVP Timothy Price Crain II sold 23,226 shares of Intuitive Machines stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $17.44, for a total value of $405,061.44. Following the sale, the senior vice president owned 359,726 shares of the company’s stock, valued at $6,273,621.44. The trade was a 6.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen J. Altemus sold 86,803 shares of the business’s stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $16.01, for a total transaction of $1,389,716.03. Following the transaction, the chief executive officer owned 1,176,246 shares in the company, valued at approximately $18,831,698.46. This trade represents a 6.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 3,689,913 shares of company stock worth $62,240,781 over the last quarter. Insiders own 39.75% of the company’s stock.

Institutional Trading of Intuitive Machines

Hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in Intuitive Machines during the fourth quarter worth about $28,000. Golden State Wealth Management LLC increased its stake in shares of Intuitive Machines by 180.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company’s stock worth $30,000 after purchasing an additional 1,800 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Intuitive Machines by 41.5% during the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after purchasing an additional 781 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Intuitive Machines by 63.2% during the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after purchasing an additional 1,016 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Intuitive Machines by 35.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company’s stock valued at $47,000 after buying an additional 1,127 shares in the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

About Intuitive Machines

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.