Intuitive Machines, Inc. (NASDAQ:LUNR – Get Free Report) shares dropped 3.2% during trading on Wednesday . The company traded as low as $6.68 and last traded at $6.90. Approximately 2,849,728 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 9,798,045 shares. The stock had previously closed at $7.13.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. Cantor Fitzgerald reduced their price objective on Intuitive Machines from $13.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Benchmark restated a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a report on Friday, March 15th.
Read Our Latest Stock Report on LUNR
Intuitive Machines Stock Down 9.2 %
Insider Buying and Selling at Intuitive Machines
In other news, major shareholder Guy Shanon sold 123,717 shares of the firm’s stock in a transaction dated 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 in the company, valued at $11,711,030.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 78.93% of the company’s stock.
Institutional Investors Weigh In On Intuitive Machines
Large investors have recently modified their holdings of the company. Janney Montgomery Scott LLC bought a new stake in Intuitive Machines during the third quarter valued at $365,000. Nomura Holdings Inc. bought a new stake in shares of Intuitive Machines during the 3rd quarter valued at about $1,369,000. Cypress Financial Planning LLC bought a new stake in shares of Intuitive Machines during the 3rd quarter valued at about $39,000. Geode Capital Management LLC grew its stake in Intuitive Machines by 154.1% during the second quarter. Geode Capital Management LLC now owns 134,566 shares of the company’s stock worth $1,102,000 after purchasing an additional 81,617 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Intuitive Machines by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 171,823 shares of the company’s stock worth $439,000 after purchasing an additional 4,387 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.
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.
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