Intuitive Machines (NASDAQ:LUNR) Shares Down 9% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares traded down 9% during mid-day trading on Friday . The stock traded as low as $18.02 and last traded at $17.94. 7,569,237 shares traded hands during trading, a decline of 44% from the average session volume of 13,527,283 shares. The stock had previously closed at $19.72.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Cantor Fitzgerald increased their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Benchmark increased their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Canaccord Genuity Group increased their price target on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Bank of America assumed coverage on shares of Intuitive Machines in a research report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price target on the stock. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.83.

Intuitive Machines Stock Down 8.4 %

The company’s fifty day moving average is $18.79 and its two-hundred day moving average is $11.85. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of -6.14 and a beta of 0.92.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, insider Steven Vontur sold 4,528 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total value of $88,748.80. Following 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $15.04, for a total transaction of $5,684,713.92. Following the completion of the transaction, the director now owns 3,494,768 shares in the company, valued at $52,561,310.72. This 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 771,632 shares of company stock valued at $12,947,078 over the last 90 days. 73.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds have recently added to or reduced their stakes in the stock. PharVision Advisers LLC purchased a new position in Intuitive Machines in the fourth quarter valued at approximately $185,000. Voloridge Investment Management LLC purchased a new position in Intuitive Machines in the fourth quarter valued at approximately $3,768,000. Soviero Asset Management LP increased its stake in Intuitive Machines by 65.0% in the fourth quarter. Soviero Asset Management LP now owns 330,000 shares of the company’s stock valued at $5,993,000 after purchasing an additional 130,000 shares during the last quarter. Two Sigma Advisers LP purchased a new position in Intuitive Machines in the fourth quarter valued at approximately $4,971,000. Finally, Two Sigma Investments LP purchased a new position in shares of Intuitive Machines during the fourth quarter worth approximately $33,255,000. 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 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.