Intuitive Machines (NASDAQ:LUNR) Shares Down 8.1% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price dropped 8.1% during trading on Wednesday . The stock traded as low as $17.58 and last traded at $17.7490. 2,481,539 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 12,890,815 shares. The stock had previously closed at $19.31.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Cantor Fitzgerald dropped their price objective on shares of Intuitive Machines from $43.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday, August 14th. B. Riley Financial lowered their price target on shares of Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Roth Capital set a $30.00 price target on shares of Intuitive Machines in a research report on Thursday, August 13th. Zacks Research raised shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $34.00 price objective on shares of Intuitive Machines in a research report on Wednesday, May 20th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.06.

Intuitive Machines Stock Down 5.8%

The firm has a market capitalization of $3.95 billion, a PE ratio of -19.21 and a beta of 1.83. The stock has a 50-day moving average price of $17.82 and a 200 day moving average price of $21.90.

Intuitive Machines (NASDAQ:LUNR) last announced its earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The firm had revenue of $206.17 million during the quarter, compared to analyst estimates of $212.32 million. As a group, equities analysts predict that Intuitive Machines, Inc. will post -0.5 earnings per share for the current fiscal year.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, Director William John Liquori, Jr. sold 18,321 shares of the company’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $29.87, for a total transaction of $547,248.27. Following the completion of the transaction, the director directly owned 68,875 shares in the company, valued at approximately $2,057,296.25. This represents a 21.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 267,448 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.17, for a total transaction of $4,324,634.16. Following the transaction, the director directly owned 3,494,768 shares in the company, valued at approximately $56,510,398.56. The trade was a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 12,404,313 shares of company stock valued at $168,526,592. Insiders own 54.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Invesco Ltd. boosted its holdings in Intuitive Machines by 19.7% in the 1st quarter. Invesco Ltd. now owns 16,092 shares of the company’s stock worth $120,000 after buying an additional 2,643 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Intuitive Machines by 43.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,715 shares of the company’s stock valued at $184,000 after acquiring an additional 7,528 shares during the last quarter. Caxton Associates LLP purchased a new position in shares of Intuitive Machines in the first quarter valued at approximately $139,000. Creative Planning lifted its position in shares of Intuitive Machines by 29.3% in the second quarter. Creative Planning now owns 30,407 shares of the company’s stock valued at $331,000 after acquiring an additional 6,886 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Intuitive Machines by 15.3% in the second quarter. Cetera Investment Advisers now owns 18,835 shares of the company’s stock worth $205,000 after acquiring an additional 2,506 shares during 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.