Intuitive Machines (NASDAQ:LUNR) Shares Down 19.8% on Analyst Downgrade

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price dropped 19.8% 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 equities analysts have also recently weighed in on the company. Cantor Fitzgerald raised their price objective on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Canaccord Genuity Group decreased their price target on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Roth Capital set a $20.00 price target on Intuitive Machines in a research report on Friday. Benchmark increased their price objective on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Intuitive Machines in a report on Tuesday, February 25th. They set a “hold” rating and a $18.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.38.

Insider Activity

In related news, insider Steven Vontur sold 4,528 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total value of $88,748.80. Following the transaction, the insider now owns 104,272 shares in the company, valued at approximately $2,043,731.20. This represents a 4.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 393,659 shares of company stock valued at $7,262,364 over the last three months. Insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Intuitive Machines by 33.6% during the 4th quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company’s stock worth $73,503,000 after purchasing an additional 1,017,706 shares during the last quarter. Two Sigma Investments LP bought a new position in Intuitive Machines during the 4th quarter worth $33,255,000. Renaissance Technologies LLC lifted its holdings in shares of Intuitive Machines by 99.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company’s stock worth $22,170,000 after buying an additional 609,118 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of 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 acquiring an additional 1,133,581 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Intuitive Machines by 20.5% in the fourth quarter. Geode Capital Management LLC now owns 1,125,005 shares of the company’s stock valued at $20,437,000 after acquiring an additional 191,733 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Stock Down 4.4 %

The firm has a market capitalization of $909.45 million, a price-to-earnings ratio of -2.20 and a beta of 1.01. The company’s 50 day moving average is $18.19 and its 200 day moving average is $12.78.

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.