Intuitive Machines (NASDAQ:LUNR) Trading Down 8.8% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price fell 8.8% during trading on Tuesday . The stock traded as low as $10.58 and last traded at $10.56. 3,634,338 shares were traded during trading, a decline of 62% from the average session volume of 9,677,988 shares. The stock had previously closed at $11.58.

Analysts Set New Price Targets

Several brokerages recently commented on LUNR. Canaccord Genuity Group dropped their price objective on Intuitive Machines from $19.00 to $18.50 and set a “buy” rating on the stock in a research note on Tuesday, August 19th. Craig Hallum assumed coverage on Intuitive Machines in a research note on Tuesday, July 22nd. They set a “buy” rating and a $17.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft set a $18.00 target price on Intuitive Machines and gave the stock a “buy” rating in a report on Friday, October 17th. Finally, Bank of America lowered their target price on Intuitive Machines from $10.50 to $8.50 and set an “underperform” rating for the company in a report on Monday, August 25th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $15.70.

Intuitive Machines Stock Performance

The company has a market cap of $1.71 billion, a P/E ratio of -2.95 and a beta of 1.42. The company has a fifty day moving average price of $10.69 and a two-hundred day moving average price of $10.56.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The firm had revenue of $50.31 million during the quarter, compared to the consensus estimate of $69.19 million. Research analysts anticipate that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Intuitive Machines by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 4,421,279 shares of the company’s stock valued at $32,939,000 after acquiring an additional 373,741 shares in the last quarter. Voya Investment Management LLC grew its holdings in shares of Intuitive Machines by 56.1% in the 3rd quarter. Voya Investment Management LLC now owns 2,656,684 shares of the company’s stock valued at $27,948,000 after acquiring an additional 954,778 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Intuitive Machines by 78.6% in the 2nd quarter. Geode Capital Management LLC now owns 2,593,135 shares of the company’s stock valued at $28,191,000 after acquiring an additional 1,141,454 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Intuitive Machines by 3.3% in the 2nd quarter. Bank of America Corp DE now owns 2,261,946 shares of the company’s stock valued at $24,587,000 after acquiring an additional 72,422 shares in the last quarter. Finally, Gotham Asset Management LLC bought a new position in shares of Intuitive Machines in the 1st quarter valued at about $15,739,000. Institutional investors own 72.21% of the company’s stock.

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 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.