Intuitive Machines (NASDAQ:LUNR) Trading Down 19.8% After Analyst Downgrade

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) was down 19.8% during mid-day trading on Monday after Roth Mkm lowered their price target on the stock from $20.00 to $12.00. Roth Mkm currently has a buy rating on the stock. Intuitive Machines traded as low as $7.04 and last traded at $7.04. Approximately 10,227,757 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 15,262,311 shares. The stock had previously closed at $8.77.

Several other brokerages also recently weighed in on LUNR. Bank of America started coverage on Intuitive Machines in a research note on Wednesday, February 5th. They set an "underperform" rating and a $16.00 target price on the stock. Benchmark raised 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. Deutsche Bank Aktiengesellschaft initiated coverage on Intuitive Machines in a research note on Tuesday, February 25th. They set a "hold" rating and a $18.00 price objective for the company. Canaccord Genuity Group reduced their price target on Intuitive Machines from $26.00 to $22.00 and set a "buy" rating for the company in a research report on Friday, March 7th. Finally, Cantor Fitzgerald raised their target price on Intuitive Machines from $10.00 to $15.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $16.38.

Insider Activity at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Steven Vontur sold 4,528 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was 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 trade represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 393,659 shares of company stock valued at $7,262,364. Corporate insiders own 73.68% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LUNR. PharVision Advisers LLC acquired a new stake in Intuitive Machines during the fourth quarter worth about $185,000. Voloridge Investment Management LLC purchased a new position in shares of Intuitive Machines during the 4th quarter worth approximately $3,768,000. Soviero Asset Management LP grew its stake in shares of 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 buying an additional 130,000 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Intuitive Machines in the 4th quarter valued at $4,971,000. Finally, Two Sigma Investments LP acquired a new position in Intuitive Machines during the 4th quarter worth about $33,255,000. Hedge funds and other institutional investors own 72.21% of the company's stock.

Intuitive Machines Trading Down 9.7 %

The company has a market capitalization of $940.32 million, a PE ratio of -2.28 and a beta of 1.01. The business has a fifty day moving average of $17.97 and a 200 day moving average of $12.74.

Intuitive Machines Company Profile

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.