Intuitive Machines (NASDAQ:LUNR) Stock Price Down 5.6% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR) shares dropped 5.6% during trading on Wednesday . The stock traded as low as $20.17 and last traded at $20.20. Approximately 15,357,382 shares traded hands during trading, an increase of 13% from the average session volume of 13,625,455 shares. The stock had previously closed at $21.39.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LUNR shares. Roth Mkm raised their target price on Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a report on Friday, April 17th. Canaccord Genuity Group boosted their price target on Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Cantor Fitzgerald upped their price objective on Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Stifel Nicolaus set a $32.00 price objective on Intuitive Machines in a research note on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $34.00 target price on shares of Intuitive Machines in a research report on Wednesday, May 20th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $31.50.

Intuitive Machines Price Performance

The business’s 50-day simple moving average is $29.31 and its two-hundred day simple moving average is $22.29. The stock has a market cap of $4.38 billion, a price-to-earnings ratio of -22.94 and a beta of 1.68.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The firm had revenue of $186.73 million during the quarter, compared to the consensus estimate of $202.95 million. Equities research analysts forecast that Intuitive Machines, Inc. will post -0.36 earnings per share for the current year.

Insider Transactions at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $39.02, for a total transaction of $5,537,289.18. Following the sale, the director directly owned 3,494,768 shares of the company’s stock, valued at approximately $136,365,847.36. This trade represents a 3.90% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy Price Crain II sold 150,000 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president directly owned 351,279 shares of the company’s stock, valued at $7,682,471.73. This represents a 29.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,066,527 shares of company stock valued at $29,896,194. 54.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

Several large investors have recently modified their holdings of LUNR. International Assets Investment Management LLC bought a new stake in shares of Intuitive Machines in the fourth quarter worth $28,000. State of Wyoming bought a new position in Intuitive Machines during the 1st quarter worth $39,000. GAMMA Investing LLC lifted its holdings in Intuitive Machines by 41.5% during the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after buying an additional 781 shares during the period. Larson Financial Group LLC grew its position in shares of Intuitive Machines by 63.2% in the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock valued at $43,000 after buying an additional 1,016 shares during the last quarter. Finally, CWM LLC grew its position in shares of Intuitive Machines by 406.4% in the 4th quarter. CWM LLC now owns 2,912 shares of the company’s stock valued at $47,000 after buying an additional 2,337 shares during the last quarter. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

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.