Intuitive Machines (NASDAQ:LUNR) Shares Down 4.9% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price dropped 4.9% on Thursday. The stock traded as low as $13.40 and last traded at $13.70. Approximately 9,277,973 shares were traded during mid-day trading, a decline of 22% from the average session volume of 11,945,729 shares. The stock had previously closed at $14.41.

Analyst Ratings Changes

A number of research analysts have weighed in on LUNR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Intuitive Machines in a research note on Friday, July 17th. Cantor Fitzgerald restated an “overweight” rating on shares of Intuitive Machines in a research report on Monday, September 21st. B. Riley Financial cut their price target on Intuitive Machines from $45.00 to $43.00 and set a “buy” rating for the company in a report on Friday, August 14th. Roth Capital set a $30.00 price objective on Intuitive Machines in a research report on Thursday, August 13th. Finally, Canaccord Genuity Group lowered their price objective on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, August 18th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Intuitive Machines currently has an average rating of “Moderate Buy” and an average price target of $30.50.

Intuitive Machines Stock Down 4.9%

The company’s 50-day moving average is $15.45 and its 200-day moving average is $21.27. The stock has a market capitalization of $3.14 billion, a price-to-earnings ratio of -14.42 and a beta of 1.86.

Intuitive Machines (NASDAQ:LUNR) last posted its earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The business had revenue of $206.17 million for the quarter, compared to the consensus estimate of $212.32 million. Sell-side analysts anticipate that Intuitive Machines, Inc. will post -0.6 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder International L.P. Advent sold 11,495,514 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $12.84, for a total value of $147,602,399.76. Following the transaction, the insider directly owned 11,495,514 shares in the company, valued at approximately $147,602,399.76. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Steven Vontur sold 3,050 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $16.13, for a total value of $49,196.50. Following the completion of the transaction, the insider owned 113,997 shares of the company’s stock, valued at $1,838,771.61. The trade was a 2.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 12,201,528 shares of company stock valued at $158,629,235. Insiders own 54.10% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Large investors have recently modified their holdings of the business. Tidal Investments LLC purchased a new stake in Intuitive Machines in the 2nd quarter valued at about $64,452,000. WINTON GROUP Ltd lifted its position in Intuitive Machines by 538.9% in the second quarter. WINTON GROUP Ltd now owns 171,857 shares of the company’s stock valued at $3,676,000 after buying an additional 144,957 shares during the last quarter. Engineers Gate Manager LP purchased a new position in Intuitive Machines during the second quarter worth about $1,732,000. Integrated Wealth Concepts LLC purchased a new position in Intuitive Machines during the second quarter worth about $88,000. Finally, Connective Capital Management LLC acquired a new stake in shares of Intuitive Machines during the second quarter valued at about $393,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Intuitive Machines Company Profile

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and operates lunar landers, spacecraft, and related systems designed to deliver payloads to the Moon and support communications, navigation, and other lunar operations.

Its primary product platform is the Nova-C lunar lander, which is designed to transport scientific instruments, technology demonstrations, and commercial payloads to the lunar surface. Intuitive Machines also provides lunar data transmission and satellite communications services, autonomous navigation systems, precision landing technologies, and other products intended to support a broader lunar economy.

Founded in 2013 by Steve Altemus, who serves as president and chief executive officer, Intuitive Machines became a publicly traded company in 2024.