Intuitive Machines (NASDAQ:LUNR) Trading Down 9.3% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) fell 9.3% during trading on Tuesday . The stock traded as low as $23.05 and last traded at $23.36. 15,769,321 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 13,639,877 shares. The stock had previously closed at $25.76.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LUNR. Wall Street Zen raised Intuitive Machines from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. KeyCorp raised their price objective on Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Roth Mkm increased their target price on Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Finally, B. Riley Financial increased their target price on Intuitive Machines to $45.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $31.50.

Intuitive Machines Trading Down 9.2%

The stock has a market capitalization of $5.08 billion, a P/E ratio of -26.59 and a beta of 1.68. The stock has a 50 day moving average of $29.92 and a 200-day moving average of $21.44.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly 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 company had revenue of $186.73 million during the quarter, compared to analysts’ expectations of $202.95 million. Research analysts anticipate that Intuitive Machines, Inc. will post -0.35 EPS for the current year.

Insiders Place Their Bets

In other news, Director Kamal Seyed Ghaffarian sold 283,818 shares of Intuitive Machines stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $18.78, for a total value of $5,330,102.04. Following the transaction, the director directly owned 3,494,768 shares in the company, valued at approximately $65,631,743.04. This trade represents a 7.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William John Liquori, Jr. sold 18,321 shares of Intuitive Machines stock in a transaction on Monday, June 8th. The shares were sold at an average price of $29.87, for a total value of $547,248.27. Following the completion of the transaction, the director owned 68,875 shares in the company, valued at $2,057,296.25. This represents a 21.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,208,436 shares of company stock worth $30,867,376. Insiders own 54.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. increased its position in shares of Intuitive Machines by 627.6% during the third quarter. Citigroup Inc. now owns 1,048,106 shares of the company’s stock worth $11,026,000 after purchasing an additional 904,065 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Intuitive Machines by 13.3% during the third quarter. Vanguard Group Inc. now owns 6,090,059 shares of the company’s stock worth $64,067,000 after purchasing an additional 717,256 shares in the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of Intuitive Machines during the fourth quarter worth about $717,000. ARK Investment Management LLC increased its position in shares of Intuitive Machines by 78.9% during the third quarter. ARK Investment Management LLC now owns 2,073,233 shares of the company’s stock worth $21,810,000 after purchasing an additional 914,458 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Intuitive Machines during the third quarter worth about $4,696,000. 72.21% of the stock is currently owned by hedge funds and other 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.