Intuitive Machines (NASDAQ:LUNR) Stock Price Down 2.7% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price dropped 2.7% during trading on Wednesday . The stock traded as low as $22.64 and last traded at $22.72. Approximately 12,050,275 shares changed hands during trading, a decline of 12% from the average daily volume of 13,657,432 shares. The stock had previously closed at $23.36.

Analyst Upgrades and Downgrades

LUNR has been the topic of several analyst reports. Canaccord Genuity Group raised their target price on Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, May 15th. B. Riley Financial raised their target price on Intuitive Machines to $45.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Roth Mkm raised their target price on Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Cantor Fitzgerald raised their target price on Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Finally, KeyCorp raised their target price on Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Eight research 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. According to MarketBeat.com, Intuitive Machines presently has a consensus rating of “Hold” and an average price target of $31.50.

Intuitive Machines Price Performance

The firm has a fifty day simple moving average of $29.91 and a 200 day simple moving average of $21.54. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of -25.82 and a beta of 1.68.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings data 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 the consensus estimate of $202.95 million. Research analysts predict that Intuitive Machines, Inc. will post -0.35 EPS for the current year.

Insider Buying and Selling

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 141,909 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $39.02, for a total value 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 Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William John Liquori, Jr. sold 18,321 shares of the firm’s stock in a transaction that occurred 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 sale, the director directly owned 68,875 shares in the company, valued at approximately $2,057,296.25. The trade was a 21.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,208,436 shares of company stock valued at $30,867,376 in the last 90 days. Corporate insiders own 54.10% of the company’s stock.

Institutional Trading of Intuitive Machines

Several institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC acquired a new stake in shares of Intuitive Machines in the fourth quarter worth approximately $28,000. State of Wyoming acquired a new stake in shares of Intuitive Machines in the first quarter worth approximately $39,000. GAMMA Investing LLC boosted 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 worth $43,000 after acquiring an additional 781 shares during the last quarter. Larson Financial Group LLC boosted its stake in shares of Intuitive Machines by 63.2% in 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 boosted its stake in shares of Intuitive Machines by 406.4% in 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 owned by institutional investors and hedge funds.

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.