Intuitive Machines (NASDAQ:LUNR) Trading Down 6% - Here's What Happened

Key Points

• Intuitive Machines shares fell about 6% intraday to $17.85, trading roughly 3.84 million shares (down 69% from the 12.23M average) after previously closing at $18.99; the company has a market cap of $3.19 billion.
• Analysts maintain a consensus of "Moderate Buy" with an average price target of $17.27 and a ratings split of 9 Buys, 3 Holds and 2 Sells.
• Significant insider activity: Director Michael Blitzer bought 141,080 shares at $9.27, while CEO Stephen Altemus sold about 1.96 million shares at $15.77 (reducing his stake by 65.6%), and insiders sold 3.55M shares in the last quarter.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) dropped 6% during mid-day trading on Monday . The stock traded as low as $17.63 and last traded at $17.8470. Approximately 3,841,797 shares traded hands during mid-day trading, a decline of 69% from the average daily volume of 12,232,520 shares. The stock had previously closed at $18.99.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LUNR. Roth Mkm reiterated a "buy" rating on shares of Intuitive Machines in a research note on Tuesday, November 4th. B. Riley upped their target price on shares of Intuitive Machines from $14.00 to $20.00 and gave the company a "buy" rating in a report on Monday, December 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of Intuitive Machines in a report on Thursday, January 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Intuitive Machines in a research note on Wednesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft set a $18.00 target price on Intuitive Machines and gave the company a "buy" rating in a research note on Friday, October 17th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Intuitive Machines presently has a consensus rating of "Moderate Buy" and an average price target of $17.27.

Intuitive Machines Stock Down 6.9%

The firm has a fifty day moving average of $15.50 and a 200-day moving average of $12.22. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of -7.15 and a beta of 1.37.

Insider Activity at Intuitive Machines

In other news, Director Michael Blitzer purchased 141,080 shares of the firm's stock in a transaction on Wednesday, November 12th. The shares were bought at an average cost of $9.27 per share, with a total value of $1,307,811.60. Following the purchase, the director directly owned 1,831,248 shares of the company's stock, valued at approximately $16,975,668.96. This trade represents a 8.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Stephen J. Altemus sold 1,958,593 shares of the company's stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $15.77, for a total transaction of $30,887,011.61. Following the transaction, the chief executive officer directly owned 1,026,402 shares in the company, valued at $16,186,359.54. The trade was a 65.61% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 3,550,000 shares of company stock valued at $59,924,826. 39.75% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LUNR. Golden State Wealth Management LLC increased its position in 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 lifted its position in 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 acquiring an additional 781 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Intuitive Machines by 35.6% in the second quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company's stock valued at $47,000 after acquiring an additional 1,127 shares in the last quarter. CWM LLC raised its stake in shares of Intuitive Machines by 406.4% during the fourth quarter. CWM LLC now owns 2,912 shares of the company's stock valued at $47,000 after purchasing an additional 2,337 shares during the period. Finally, Quarry LP lifted its position in shares of Intuitive Machines by 151.4% during the third quarter. Quarry LP now owns 6,457 shares of the company's stock worth $68,000 after purchasing an additional 3,889 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 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.

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