Intuitive Machines (NASDAQ:LUNR) Trading Down 12.8% – Time to Sell?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) were down 12.8% during mid-day trading on Monday . The company traded as low as $37.80 and last traded at $38.21. Approximately 15,942,900 shares traded hands during mid-day trading, an increase of 17% from the average daily volume of 13,582,653 shares. The stock had previously closed at $43.83.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LUNR shares. B. Riley Financial boosted their price objective on shares of Intuitive Machines to $45.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Canaccord Genuity Group boosted their price objective on shares of Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Cantor Fitzgerald boosted their price objective on shares of Intuitive Machines from $26.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. Wall Street Zen upgraded shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. Finally, Zacks Research cut shares of Intuitive Machines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Intuitive Machines currently has a consensus rating of “Hold” and an average price target of $31.50.

Intuitive Machines Stock Down 12.8%

The firm’s 50-day moving average is $27.32 and its 200-day moving average is $19.73. The company has a market cap of $8.29 billion, a PE ratio of -43.42 and a beta of 1.68.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The business had revenue of $186.73 million for the quarter, compared to analyst estimates of $202.95 million. As a group, equities research analysts anticipate that Intuitive Machines, Inc. will post -0.35 EPS for the current fiscal year.

Insider Activity

In related news, CFO Peter Mcgrath sold 24,554 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total transaction of $579,719.94. Following the transaction, the chief financial officer owned 401,246 shares in the company, valued at $9,473,418.06. This represents a 5.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kamal Seyed Ghaffarian sold 283,818 shares of the stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of $18.78, for a total transaction of $5,330,102.04. Following the completion of the transaction, the director owned 3,494,768 shares in the company, valued at $65,631,743.04. The trade was a 7.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,048,206 shares of company stock worth $24,782,839. Corporate insiders own 54.10% of the company’s stock.

Institutional Trading of Intuitive Machines

A number of hedge funds and other institutional investors have recently modified their holdings of LUNR. Trustees of the University of Pennsylvania purchased a new stake in shares of Intuitive Machines in the fourth quarter worth $52,689,000. First Trust Advisors LP increased its stake in shares of Intuitive Machines by 3,582.9% in the third quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock worth $25,809,000 after purchasing an additional 2,386,688 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Intuitive Machines in the first quarter worth $35,895,000. Jump Financial LLC increased its stake in shares of Intuitive Machines by 5,262.9% in the third quarter. Jump Financial LLC now owns 1,339,872 shares of the company’s stock worth $14,095,000 after purchasing an additional 1,314,888 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Intuitive Machines by 188.9% in the first quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock worth $34,948,000 after purchasing an additional 1,231,188 shares in the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

About Intuitive Machines

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.