Intuitive Machines (NASDAQ:LUNR) Trading Down 2.2% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares dropped 2.2% on Thursday . The company traded as low as $17.91 and last traded at $18.70. 10,394,102 shares traded hands during trading, a decline of 24% from the average daily volume of 13,609,275 shares. The stock had previously closed at $19.13.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. 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. Cantor Fitzgerald boosted their price objective on shares of Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 19th. Canaccord Genuity Group increased their target price on shares of Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, May 15th. KeyCorp lifted their price objective on Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday, April 21st. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Intuitive Machines presently has a consensus rating of “Hold” and a consensus target price of $31.50.

Intuitive Machines Trading Up 5.8%

The firm has a market capitalization of $4.29 billion, a P/E ratio of -22.49 and a beta of 1.68. The business has a 50-day moving average of $29.56 and a 200 day moving average of $22.08.

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 company had revenue of $186.73 million during the quarter, compared to analyst estimates of $202.95 million. As a group, research analysts forecast that Intuitive Machines, Inc. will post -0.36 EPS for the current year.

Insider Buying and Selling

In related news, SVP Timothy Price Crain II sold 150,000 shares of Intuitive Machines stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $21.87, for a total value of $3,280,500.00. Following the completion of the sale, the senior vice president owned 351,279 shares of the company’s stock, valued at approximately $7,682,471.73. This trade represents a 29.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Mcgrath sold 24,554 shares of the business’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 $579,719.94. Following the sale, the chief financial officer owned 401,246 shares of the company’s stock, valued at $9,473,418.06. This trade represents a 5.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,066,527 shares of company stock worth $29,896,194 over the last quarter. Corporate insiders own 54.10% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Several large investors have recently added to or reduced their stakes in LUNR. Bank of America Corp DE boosted its stake in Intuitive Machines by 188.9% during the 1st quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock valued at $34,948,000 after purchasing an additional 1,231,188 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in shares of Intuitive Machines in the first quarter valued at approximately $59,000. Janus Henderson Group PLC lifted its holdings in shares of Intuitive Machines by 38.9% in the first quarter. Janus Henderson Group PLC now owns 51,100 shares of the company’s stock valued at $947,000 after purchasing an additional 14,300 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Intuitive Machines by 28.2% during the first quarter. California State Teachers Retirement System now owns 126,442 shares of the company’s stock valued at $2,347,000 after buying an additional 27,793 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in Intuitive Machines by 2.4% during the first quarter. The Manufacturers Life Insurance Company now owns 53,679 shares of the company’s stock worth $996,000 after buying an additional 1,235 shares in the last quarter. 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.