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

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price was down 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 mid-day trading, a decline of 49% from the average daily volume of 15,281,672 shares. The stock had previously closed at $9.22.

Other equities research analysts have also recently issued reports about the stock. Canaccord Genuity Group reduced their price target on shares of Intuitive Machines from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday. Benchmark reissued a “buy” rating and issued a $16.00 target price on shares of Intuitive Machines in a report on Tuesday. Roth Mkm decreased their target price on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Bank of America began coverage on Intuitive Machines in a research note on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Intuitive Machines in a research report on Tuesday, February 25th. They set a “hold” rating and a $18.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Intuitive Machines currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Insider Activity

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the sale, the director now owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Vontur sold 9,266 shares of Intuitive Machines stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $22.50, for a total transaction of $208,485.00. Following the completion of the sale, the insider now directly owns 98,656 shares in the company, valued at approximately $2,219,760. The trade was a 8.59 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 391,767 shares of company stock valued at $7,233,038. Company insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. PharVision Advisers LLC purchased a new stake in shares of Intuitive Machines during the 4th quarter worth $185,000. Voloridge Investment Management LLC acquired a new position in Intuitive Machines during the fourth quarter worth about $3,768,000. Soviero Asset Management LP increased its holdings in Intuitive Machines by 65.0% in the fourth quarter. Soviero Asset Management LP now owns 330,000 shares of the company’s stock valued at $5,993,000 after buying an additional 130,000 shares in the last quarter. Two Sigma Advisers LP acquired a new stake in shares of Intuitive Machines during the 4th quarter valued at approximately $4,971,000. Finally, Two Sigma Investments LP purchased a new stake in shares of Intuitive Machines during the 4th quarter worth approximately $33,255,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Intuitive Machines Stock Performance

The business has a fifty day moving average of $15.70 and a two-hundred day moving average of $12.93. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -2.99 and a beta of 1.01.

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

About Intuitive Machines

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.