Intuitive Machines (NASDAQ:LUNR) Trading Down 2.5% After Analyst Downgrade

Intuitive Machines, Inc. (NASDAQ:LUNRGet Free Report) shares were down 2.5% during mid-day trading on Monday after Cantor Fitzgerald lowered their price target on the stock from $13.00 to $10.00. Cantor Fitzgerald currently has an overweight rating on the stock. Intuitive Machines traded as low as $6.14 and last traded at $6.24. Approximately 2,315,309 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 9,869,504 shares. The stock had previously closed at $6.40.

Separately, Benchmark restated a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a report on Friday, March 15th.

View Our Latest Research Report on LUNR

Insider Activity

In other news, major shareholder Guy Shanon sold 123,717 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was 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 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 hyperlink. Corporate insiders own 78.93% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Institutional investors have recently bought and sold shares of the stock. Hemington Wealth Management bought a new stake in Intuitive Machines during the fourth quarter worth $26,000. Cypress Financial Planning LLC bought a new position in Intuitive Machines in the 3rd quarter valued at $39,000. Virtu Financial LLC bought a new position in Intuitive Machines in the 4th quarter valued at $81,000. State Street Corp bought a new position in Intuitive Machines in the 2nd quarter valued at $111,000. Finally, Northern Trust Corp grew its stake in Intuitive Machines by 179.1% in the 4th quarter. Northern Trust Corp now owns 47,765 shares of the company’s stock valued at $122,000 after purchasing an additional 30,649 shares during the period. Institutional investors own 5.17% of the company’s stock.

Intuitive Machines Price Performance

The business has a 50 day simple moving average of $5.11 and a 200-day simple moving average of $3.85.

Intuitive Machines Company Profile

(Get Free Report)

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 ┬ÁNova, a lunar rocket-fueled drone, lunar surface rover services, fixed lunar surface services, rideshare delivery services, lunar access services, lunar orbit delivery services, and lunar data network services, as well as content sales and marketing.

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