Intuitive Machines, Inc. (NASDAQ:LUNR – Get Free Report)’s share price was down 2.5% during 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 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 reaffirmed a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a research note on Friday, March 15th.
Insider Buying and Selling at Intuitive Machines
In other Intuitive Machines news, major shareholder Guy Shanon sold 123,717 shares of Intuitive Machines stock in a transaction 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 transaction, the insider now directly owns 1,302,673 shares of the company’s stock, valued at $11,711,030.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 78.93% of the company’s stock.
Institutional Trading of Intuitive Machines
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Intuitive Machines by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 171,823 shares of the company’s stock valued at $439,000 after buying an additional 4,387 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Intuitive Machines in the fourth quarter valued at about $81,000. Northern Trust Corp raised its holdings in Intuitive Machines by 179.1% during the 4th quarter. Northern Trust Corp now owns 47,765 shares of the company’s stock worth $122,000 after purchasing an additional 30,649 shares during the last quarter. Hemington Wealth Management bought a new stake in Intuitive Machines during the 4th quarter worth about $26,000. Finally, Nomura Holdings Inc. bought a new stake in Intuitive Machines during the 3rd quarter worth about $1,369,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.
Intuitive Machines Price Performance
The business has a 50 day moving average price of $5.04 and a 200 day moving average price of $3.84.
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 µNova, 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.