Intuitive Machines (NASDAQ:LUNR) Shares Down 3% After Analyst Downgrade

Intuitive Machines, Inc. (NASDAQ:LUNR) dropped 3% during trading on Tuesday after Cantor Fitzgerald lowered their price target on the stock from $15.00 to $13.00. Cantor Fitzgerald currently has an overweight rating on the stock. Intuitive Machines traded as low as $8.90 and last traded at $8.95. Approximately 7,792,386 shares traded hands during trading, a decline of 49% from the average daily volume of 15,281,672 shares. The stock had previously closed at $9.22.

Several other research firms also recently weighed in on LUNR. Roth Mkm reduced their target price on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Benchmark reiterated a “buy” rating and set a $16.00 price objective on shares of Intuitive Machines in a report on Tuesday. Bank of America started coverage on shares of Intuitive Machines in a report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 target price for the company. Canaccord Genuity Group cut their price target on shares of Intuitive Machines from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Roth Capital set a $20.00 price target on shares of Intuitive Machines in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Insider Buying and Selling

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’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 transaction, the director now directly owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Steven Vontur sold 4,528 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the completion of the transaction, the insider now owns 104,272 shares of the company’s stock, valued at $2,043,731.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 391,767 shares of company stock valued at $7,233,038. 73.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

Institutional investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP acquired a new stake in shares of Intuitive Machines during the fourth quarter valued at about $33,255,000. D. E. Shaw & Co. Inc. boosted its holdings in Intuitive Machines by 3,991.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company’s stock valued at $21,102,000 after purchasing an additional 1,133,581 shares during the last quarter. Vanguard Group Inc. grew its stake in Intuitive Machines by 33.6% during the 4th quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company’s stock valued at $73,503,000 after purchasing an additional 1,017,706 shares in the last quarter. Renaissance Technologies LLC increased its holdings in Intuitive Machines by 99.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company’s stock worth $22,170,000 after purchasing an additional 609,118 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in Intuitive Machines during the 4th quarter worth approximately $9,133,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Intuitive Machines Trading Down 4.5 %

The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -2.99 and a beta of 1.01. The stock has a 50-day simple moving average of $15.70 and a 200-day simple moving average of $12.93.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings data on Tuesday, March 25th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.12. The company had revenue of $54.66 million for the quarter, compared to the consensus estimate of $72.58 million. On average, research analysts forecast that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

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.