Intuitive Machines (NASDAQ:LUNR) Shares Gap Down After Analyst Downgrade

Intuitive Machines, Inc. (NASDAQ:LUNR) gapped down prior to trading on Friday after Canaccord Genuity Group lowered their price target on the stock from $26.00 to $22.00. The stock had previously closed at $11.26, but opened at $7.26. Canaccord Genuity Group currently has a buy rating on the stock. Intuitive Machines shares last traded at $8.66, with a volume of 14,219,547 shares changing hands.

Other equities research analysts have also recently issued research reports about the stock. Bank of America began coverage on shares of Intuitive Machines in a research report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price objective for the company. Benchmark upped their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intuitive Machines in a research report on Tuesday, February 25th. They set a “hold” rating and a $18.00 price target on the stock. Finally, Cantor Fitzgerald boosted their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $15.57.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the sale, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Steven Vontur sold 4,528 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total value of $88,748.80. Following the completion of the transaction, the insider now directly owns 104,272 shares in the company, valued at $2,043,731.20. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 393,659 shares of company stock worth $7,262,364. Company insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tealwood Asset Management Inc. boosted its stake in Intuitive Machines by 4.5% during the 4th quarter. Tealwood Asset Management Inc. now owns 20,900 shares of the company’s stock valued at $380,000 after purchasing an additional 900 shares during the last quarter. Invesco Ltd. boosted its position in shares of Intuitive Machines by 8.3% during the fourth quarter. Invesco Ltd. now owns 13,449 shares of the company’s stock valued at $244,000 after buying an additional 1,026 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Intuitive Machines by 10.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,187 shares of the company’s stock worth $312,000 after buying an additional 1,566 shares in the last quarter. Quarry LP purchased a new stake in Intuitive Machines in the 4th quarter valued at $44,000. Finally, Bank of New York Mellon Corp lifted its stake in Intuitive Machines by 3.7% during the 4th quarter. Bank of New York Mellon Corp now owns 70,740 shares of the company’s stock valued at $1,285,000 after acquiring an additional 2,499 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Stock Performance

The stock has a market cap of $1.29 billion, a PE ratio of -3.08 and a beta of 1.01. The business has a 50 day moving average price of $18.86 and a two-hundred day moving average price of $12.63.

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.