Intuitive Machines (NASDAQ:LUNR) Shares Down 3.2% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR) dropped 3.2% during mid-day trading on Monday . The stock traded as low as $25.57 and last traded at $25.76. Approximately 14,671,868 shares traded hands during mid-day trading, an increase of 7% from the average daily volume of 13,650,708 shares. The stock had previously closed at $26.62.

Wall Street Analyst Weigh In

LUNR has been the topic of several recent research reports. Roth Mkm raised their target price on shares of Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Wall Street Zen raised shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. Stifel Nicolaus set a $32.00 target price on shares of Intuitive Machines in a research note on Friday, May 15th. Finally, Canaccord Genuity Group lifted their price objective on shares of Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $31.50.

Intuitive Machines Trading Down 3.2%

The firm’s 50 day moving average is $29.89 and its two-hundred day moving average is $21.33. The firm has a market cap of $5.59 billion, a P/E ratio of -29.27 and a beta of 1.68.

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

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, Director William John Liquori, Jr. sold 18,321 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $29.87, for a total transaction of $547,248.27. Following the sale, the director directly owned 68,875 shares in the company, valued at approximately $2,057,296.25. This trade represents a 21.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Peter Mcgrath sold 24,554 shares of the firm’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total transaction of $579,719.94. Following the sale, the chief financial officer owned 401,246 shares in the company, valued at $9,473,418.06. This trade represents a 5.77% decrease in their ownership of the stock. 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 1,208,436 shares of company stock worth $30,867,376 over the last ninety days. 54.10% of the stock is owned by corporate insiders.

Institutional Trading of Intuitive Machines

Several hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its holdings in Intuitive Machines by 34.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock worth $52,000 after buying an additional 712 shares during the period. GAMMA Investing LLC raised its holdings in Intuitive Machines by 41.5% during the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after buying an additional 781 shares during the period. Sigma Planning Corp raised its holdings in Intuitive Machines by 8.8% during the 4th quarter. Sigma Planning Corp now owns 10,947 shares of the company’s stock worth $178,000 after buying an additional 886 shares during the period. Nations Financial Group Inc. IA ADV raised its holdings in Intuitive Machines by 9.9% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 11,080 shares of the company’s stock worth $206,000 after buying an additional 1,000 shares during the period. Finally, Larson Financial Group LLC raised its holdings in Intuitive Machines by 63.2% during the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after buying an additional 1,016 shares during the period. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Machines Company Profile

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.