Intuitive Machines (NASDAQ:LUNR) Trading Down 3.5% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price traded down 3.5% on Monday . The company traded as low as $18.59 and last traded at $18.89. 11,321,100 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 13,572,944 shares. The stock had previously closed at $19.58.

Analysts Set New Price Targets

LUNR has been the subject of a number of recent analyst reports. Zacks Research lowered Intuitive Machines from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. KeyCorp lifted their price objective on Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Stifel Nicolaus set a $32.00 price target on Intuitive Machines in a report on Friday, May 15th. Canaccord Genuity Group boosted their price objective on Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Intuitive Machines currently has an average rating of “Hold” and a consensus target price of $31.50.

Intuitive Machines Stock Performance

The stock has a market capitalization of $4.10 billion, a P/E ratio of -21.47 and a beta of 1.78. The firm has a 50-day moving average price of $28.79 and a 200 day moving average price of $22.46.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The business had revenue of $186.73 million for the quarter, compared to analyst estimates of $202.95 million. On average, equities analysts anticipate that Intuitive Machines, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Activity

In related news, 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 transaction, the chief financial officer directly owned 401,246 shares in the company, valued at $9,473,418.06. This trade represents a 5.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William John Liquori, Jr. sold 18,321 shares of the business’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 value of $547,248.27. Following the completion of the sale, the director owned 68,875 shares of the company’s stock, valued at $2,057,296.25. The trade was a 21.01% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,066,527 shares of company stock valued at $29,503,106. Company insiders own 54.10% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in shares of Intuitive Machines in the fourth quarter valued at about $28,000. State of Wyoming bought a new position in Intuitive Machines during the 1st quarter valued at approximately $39,000. GAMMA Investing LLC lifted its holdings in Intuitive Machines by 41.5% in 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. Larson Financial Group LLC grew its position in shares of Intuitive Machines by 63.2% in 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 last quarter. Finally, CWM LLC increased its stake in shares of Intuitive Machines by 406.4% during the fourth quarter. CWM LLC now owns 2,912 shares of the company’s stock valued at $47,000 after buying an additional 2,337 shares during the period. Hedge funds and other institutional investors own 72.21% of the company’s stock.

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.