Intuitive Machines (NASDAQ:LUNR) Shares Down 4.1% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price traded down 4.1% on Friday . The stock traded as low as $38.77 and last traded at $43.83. 19,677,756 shares traded hands during mid-day trading, an increase of 45% from the average session volume of 13,557,730 shares. The stock had previously closed at $45.70.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Zacks Research lowered Intuitive Machines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. Canaccord Genuity Group raised their price objective on Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Intuitive Machines in a research note on Wednesday, May 20th. Finally, KeyCorp raised their price objective on Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $31.50.

Intuitive Machines Price Performance

The stock has a market capitalization of $9.51 billion, a P/E ratio of -49.81 and a beta of 1.47. The firm has a 50-day simple moving average of $26.81 and a 200 day simple moving average of $19.50.

Intuitive Machines (NASDAQ:LUNR) last posted its earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The business had revenue of $186.73 million during the quarter, compared to analysts’ expectations of $202.95 million. Sell-side analysts anticipate that Intuitive Machines, Inc. will post -0.44 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Price Crain II sold 150,000 shares of the stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $17.55, for a total value of $2,632,500.00. Following the completion of the transaction, the senior vice president directly owned 359,726 shares in the company, valued at approximately $6,313,191.30. This trade represents a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kamal Seyed Ghaffarian sold 283,818 shares of the stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $18.78, for a total value of $5,330,102.04. Following the completion of the transaction, the director owned 3,494,768 shares of the company’s stock, valued at $65,631,743.04. This represents a 7.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,048,206 shares of company stock valued at $24,782,839 over the last three months. Company insiders own 54.10% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Several large investors have recently bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Intuitive Machines during the fourth quarter worth about $28,000. State of Wyoming bought a new position in shares of Intuitive Machines during the first quarter worth about $39,000. GAMMA Investing LLC raised its position in shares of Intuitive Machines by 41.5% during the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after acquiring an additional 781 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Intuitive Machines by 63.2% during the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after acquiring an additional 1,016 shares during the last quarter. Finally, CWM LLC raised its position in shares of Intuitive Machines by 406.4% during the fourth quarter. CWM LLC now owns 2,912 shares of the company’s stock worth $47,000 after acquiring an additional 2,337 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors.

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.