Intuitive Machines (NASDAQ:LUNR) Shares Down 6%

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) dropped 6% during mid-day trading on Monday . The stock traded as low as $5.10 and last traded at $5.19. Approximately 2,146,017 shares traded hands during mid-day trading, a decline of 77% from the average daily volume of 9,477,420 shares. The stock had previously closed at $5.52.

Wall Street Analysts Forecast Growth

LUNR has been the subject of several recent research reports. Roth Mkm restated a "buy" rating and issued a $15.00 price target on shares of Intuitive Machines in a research report on Thursday. Benchmark restated a "buy" rating and issued a $10.00 price target on shares of Intuitive Machines in a research report on Thursday. Finally, Cantor Fitzgerald decreased their price objective on shares of Intuitive Machines from $13.00 to $10.00 and set an "overweight" rating for the company in a research report on Friday, March 22nd.

Intuitive Machines Price Performance

The company's 50-day moving average price is $5.77 and its two-hundred day moving average price is $3.98. The company has a market capitalization of $624.59 million, a price-to-earnings ratio of 2.10 and a beta of 0.23.

Insider Transactions at Intuitive Machines

In other news, major shareholder Guy Shanon sold 123,717 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $8.99, for a total transaction of $1,112,215.83. Following the completion of the sale, the insider now directly owns 1,302,673 shares in the company, valued at $11,711,030.27. The transaction was disclosed in a filing with the SEC, which is available at this link. 78.93% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Intuitive Machines by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 171,823 shares of the company's stock worth $439,000 after acquiring an additional 4,387 shares in the last quarter. Hemington Wealth Management bought a new position in Intuitive Machines during the fourth quarter worth $26,000. Cypress Financial Planning LLC bought a new position in Intuitive Machines during the third quarter worth $39,000. State Street Corp bought a new position in Intuitive Machines during the second quarter worth $111,000. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of Intuitive Machines in the second quarter valued at $242,000. 72.21% of the stock is owned by institutional investors.

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.