Intuitive Machines (NASDAQ:LUNR) Shares Down 7.1% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price dropped 7.1% during trading on Monday . The stock traded as low as $7.45 and last traded at $7.50. Approximately 4,288,545 shares were traded during trading, a decline of 64% from the average daily volume of 11,766,959 shares. The stock had previously closed at $8.07.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Cantor Fitzgerald decreased their target price 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. Roth Mkm lowered their price objective on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Bank of America began coverage on Intuitive Machines in a research note on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 target price on the stock. Benchmark reiterated a “buy” rating and issued a $16.00 price target on shares of Intuitive Machines in a research note on Tuesday, March 25th. Finally, Roth Capital set a $20.00 price objective on shares of Intuitive Machines in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Intuitive Machines currently has an average rating of “Moderate Buy” and an average target price of $16.00.

Intuitive Machines Stock Down 7.4 %

The firm’s fifty day moving average price is $15.28 and its two-hundred day moving average price is $13.02. The stock has a market capitalization of $1.05 billion, a PE ratio of -2.54 and a beta of 1.01.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.12. The firm had revenue of $54.66 million during the quarter, compared to the consensus estimate of $72.58 million. As a group, analysts predict that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, insider Steven Vontur sold 4,528 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the completion of the sale, the insider now directly owns 104,272 shares of the company’s stock, valued at approximately $2,043,731.20. This represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in Intuitive Machines by 33.6% during the fourth quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company’s stock valued at $73,503,000 after purchasing an additional 1,017,706 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of Intuitive Machines in the fourth quarter worth about $33,255,000. Renaissance Technologies LLC lifted its position in shares of Intuitive Machines by 99.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company’s stock valued at $22,170,000 after buying an additional 609,118 shares in the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of Intuitive Machines by 3,991.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company’s stock valued at $21,102,000 after acquiring an additional 1,133,581 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Intuitive Machines by 20.5% in the 4th quarter. Geode Capital Management LLC now owns 1,125,005 shares of the company’s stock worth $20,437,000 after acquiring an additional 191,733 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.

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.