Intuitive Machines (NASDAQ:LUNR) Stock Price Down 13.1% – Here’s Why

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) fell 13.1% on Friday . The company traded as low as $25.45 and last traded at $26.62. 22,099,652 shares were traded during mid-day trading, an increase of 62% from the average session volume of 13,639,818 shares. The stock had previously closed at $30.64.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LUNR. Stifel Nicolaus set a $32.00 target price on shares of Intuitive Machines in a report on Friday, May 15th. Wall Street Zen upgraded shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. Zacks Research cut Intuitive Machines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. KeyCorp lifted their target price on Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Wednesday, April 29th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $34.00 target price on shares of Intuitive Machines in a research note on Wednesday, May 20th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.50.

Intuitive Machines Trading Down 13.1%

The stock’s fifty day moving average price is $29.76 and its two-hundred day moving average price is $21.20. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of -30.25 and a beta of 1.68.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The business had revenue of $186.73 million during the quarter, compared to the consensus estimate of $202.95 million. Analysts anticipate that Intuitive Machines, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Timothy Price Crain II sold 150,000 shares of Intuitive Machines stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $17.55, for a total value of $2,632,500.00. Following the transaction, the senior vice president directly owned 359,726 shares of the company’s stock, valued at $6,313,191.30. The trade was a 29.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Stephen J. Altemus sold 13,751 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total transaction of $324,661.11. Following the completion of the sale, the chief executive officer owned 1,162,495 shares of the company’s stock, valued at approximately $27,446,506.95. This trade represents a 1.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,208,436 shares of company stock valued at $30,867,376 over the last ninety days. Company insiders own 54.10% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently made changes to their positions in LUNR. Trustees of the University of Pennsylvania acquired a new position in Intuitive Machines in the 4th quarter valued at about $52,689,000. First Trust Advisors LP lifted its position in Intuitive Machines by 3,582.9% during the 3rd quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock worth $25,809,000 after acquiring an additional 2,386,688 shares during the period. Renaissance Technologies LLC purchased a new position in shares of Intuitive Machines in the 1st quarter valued at approximately $35,895,000. Jump Financial LLC grew its stake in shares of Intuitive Machines by 5,262.9% in the 3rd quarter. Jump Financial LLC now owns 1,339,872 shares of the company’s stock valued at $14,095,000 after purchasing an additional 1,314,888 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Intuitive Machines by 188.9% during the first quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock worth $34,948,000 after purchasing an additional 1,231,188 shares during the period. 72.21% of the stock is owned by hedge funds and other institutional investors.

About Intuitive Machines

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.