Intuitive Machines (NASDAQ:LUNR) Shares Down 12.7% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) traded down 12.7% during trading on Friday . The stock traded as low as $28.57 and last traded at $29.36. 13,810,911 shares changed hands during mid-day trading, an increase of 2% from the average session volume of 13,572,326 shares. The stock had previously closed at $33.63.

Analyst Ratings Changes

Several equities analysts recently issued reports on LUNR shares. Stifel Nicolaus set a $32.00 price target on shares of Intuitive Machines in a research note on Friday, May 15th. Zacks Research downgraded shares of Intuitive Machines from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Roth Mkm upped their target price on shares of Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Wall Street Zen raised shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Intuitive Machines has an average rating of “Hold” and a consensus price target of $31.50.

Intuitive Machines Trading Down 12.7%

The company has a market cap of $6.37 billion, a P/E ratio of -33.36 and a beta of 1.68. The firm’s 50 day moving average price is $28.90 and its 200-day moving average price is $20.56.

Intuitive Machines (NASDAQ:LUNR) last issued its earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Analysts predict that Intuitive Machines, Inc. will post -0.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Timothy Price Crain II sold 8,447 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total transaction of $199,433.67. Following the completion of the transaction, the senior vice president directly owned 351,279 shares of the company’s stock, valued at $8,293,697.19. This represents a 2.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Peter Mcgrath sold 24,554 shares of Intuitive Machines stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total value of $579,719.94. Following the completion of the sale, the chief financial officer directly owned 401,246 shares in the company, valued at approximately $9,473,418.06. This represents a 5.77% 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. In the last three months, insiders sold 1,190,115 shares of company stock worth $30,320,128. 54.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new position in shares of Intuitive Machines during the 4th quarter worth approximately $28,000. State of Wyoming acquired a new stake in shares of Intuitive Machines in the 1st quarter valued at approximately $39,000. GAMMA Investing LLC grew its stake in shares of Intuitive Machines by 41.5% in the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after buying an additional 781 shares in the last quarter. Larson Financial Group LLC increased its holdings in 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 buying an additional 1,016 shares during the last quarter. Finally, CWM LLC increased its holdings in 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 buying an additional 2,337 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.