Intuitive Machines (NASDAQ:LUNR) Shares Down 6.8% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR) shares fell 6.8% during mid-day trading on Monday . The stock traded as low as $7.01 and last traded at $6.94. 693,845 shares traded hands during trading, a decline of 94% from the average session volume of 12,017,262 shares. The stock had previously closed at $7.45.

Analysts Set New Price Targets

Several research firms recently weighed in on LUNR. Benchmark reiterated a “buy” rating and issued a $16.00 price target on shares of Intuitive Machines in a report on Tuesday, March 25th. Bank of America started coverage on Intuitive Machines in a research report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price target on the stock. Canaccord Genuity Group decreased their price objective on Intuitive Machines from $22.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. Roth Capital set a $20.00 target price on shares of Intuitive Machines in a report on Friday, March 7th. Finally, Cantor Fitzgerald decreased their price target on shares of Intuitive Machines from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.00.

Intuitive Machines Stock Up 4.5 %

The firm has a fifty day moving average price of $10.29 and a two-hundred day moving average price of $12.96. The stock has a market capitalization of $1.31 billion, a P/E ratio of -2.50 and a beta of 1.33.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings data on Tuesday, March 25th. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.12. The firm had revenue of $54.66 million for the quarter, compared to the consensus estimate of $72.58 million. Sell-side analysts anticipate that Intuitive Machines, Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Peter Mcgrath sold 37,906 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $7.71, for a total value of $292,255.26. Following the sale, the chief financial officer now owns 438,992 shares in the company, valued at approximately $3,384,628.32. This trade represents a 7.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven Vontur sold 4,528 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total value of $88,748.80. Following the transaction, the insider now directly owns 104,272 shares in the company, valued at $2,043,731.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,700 shares of company stock valued at $589,489 in the last 90 days. 73.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuitive Machines

A number of large investors have recently made changes to their positions in the company. Inscription Capital LLC purchased a new position in shares of Intuitive Machines in the first quarter worth approximately $363,000. Solstein Capital LLC raised its position in Intuitive Machines by 324.2% in the first quarter. Solstein Capital LLC now owns 30,094 shares of the company’s stock worth $224,000 after acquiring an additional 23,000 shares during the period. Park Avenue Securities LLC purchased a new position in shares of Intuitive Machines during the 1st quarter worth $81,000. Hennion & Walsh Asset Management Inc. grew its position in shares of Intuitive Machines by 20.0% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 68,982 shares of the company’s stock valued at $514,000 after acquiring an additional 11,519 shares during the period. Finally, Sanders Morris Harris LLC increased its stake in shares of Intuitive Machines by 99.0% in the 1st quarter. Sanders Morris Harris LLC now owns 49,155 shares of the company’s stock worth $366,000 after purchasing an additional 24,455 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors.

About Intuitive Machines

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.