Intuitive Machines (NASDAQ:LUNR) Stock Falls 4.3% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price was down 4.3% during trading on Tuesday. The company traded as low as $14.54 and last traded at $14.55. 6,597,155 shares changed hands during mid-day trading, a decline of 45% from the average session volume of 12,046,799 shares. The stock had previously closed at $15.20.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Roth Capital set a $30.00 price target on Intuitive Machines in a research note on Thursday, August 13th. Bank of America increased their target price on shares of Intuitive Machines from $11.00 to $13.00 and gave the stock an “underperform” rating in a report on Monday, August 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a research note on Friday, July 17th. Zacks Research raised shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, B. Riley Financial dropped their price target on Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $30.50.

Intuitive Machines Stock Performance

The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of -15.32 and a beta of 1.85. The company has a fifty day simple moving average of $15.27 and a two-hundred day simple moving average of $21.45.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The firm had revenue of $206.17 million for the quarter, compared to the consensus estimate of $212.32 million. As a group, equities analysts anticipate that Intuitive Machines, Inc. will post -0.6 earnings per share for the current year.

Insider Activity at Intuitive Machines

In other news, SVP Timothy Crain, II sold 100,000 shares of the stock in a transaction on Friday, September 18th. The shares were sold at an average price of $13.98, for a total transaction of $1,398,000.00. Following the completion of the sale, the senior vice president directly owned 351,279 shares in the company, valued at $4,910,880.42. This represents a 22.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Vontur sold 3,050 shares of Intuitive Machines stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $16.13, for a total value of $49,196.50. Following the transaction, the insider owned 113,997 shares of the company’s stock, valued at $1,838,771.61. This trade represents a 2.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 12,201,528 shares of company stock valued at $158,629,235 over the last three months. 54.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Nykredit A S purchased a new position in shares of Intuitive Machines during the 2nd quarter worth approximately $25,000. State of Wyoming bought a new position in Intuitive Machines in the first quarter worth about $39,000. PNC Financial Services Group Inc. lifted its stake in Intuitive Machines by 34.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock valued at $52,000 after buying an additional 712 shares in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Intuitive Machines in the first quarter valued at about $59,000. Finally, KBC Group NV lifted its stake in Intuitive Machines by 76.4% during the first quarter. KBC Group NV now owns 4,247 shares of the company’s stock worth $79,000 after purchasing an additional 1,840 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors.

About Intuitive Machines

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and delivers lunar missions, spacecraft, and related services for government and commercial customers, with a focus on supporting a sustainable presence on the Moon.

Its activities include lunar payload delivery, spacecraft and lander development, lunar communications and navigation services, and the collection and transmission of data from the lunar surface. Intuitive Machines’ Nova-C lunar lander is designed to transport scientific instruments, technology demonstrations, and other payloads to the Moon.

Founded in 2013 by Stephen Altemus, who serves as president and chief executive officer, Intuitive Machines has supported NASA’s Commercial Lunar Payload Services program.