Intuitive Machines (NASDAQ:LUNR) Stock Falls 2.9% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price traded down 2.9% during mid-day trading on Monday. The stock traded as low as $14.02 and last traded at $14.29. Approximately 7,515,268 shares were traded during trading, a decline of 37% from the average session volume of 11,969,554 shares. The stock had previously closed at $14.71.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LUNR. Roth Capital set a $30.00 price objective on shares of Intuitive Machines in a research report on Thursday, August 13th. B. Riley Financial decreased their target price on Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Zacks Research raised Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Canaccord Genuity Group cut their price target on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Friday, July 17th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Intuitive Machines presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

Intuitive Machines Price Performance

The company has a market cap of $3.27 billion, a PE ratio of -15.04 and a beta of 1.86. The company has a 50-day moving average of $15.31 and a 200 day moving average of $21.35.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings data 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 business had revenue of $206.17 million during the quarter, compared to the consensus estimate of $212.32 million. Equities research analysts expect that Intuitive Machines, Inc. will post -0.6 EPS for the current year.

Insider Buying and Selling

In related news, Director Kamal Ghaffarian sold 267,448 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $16.17, for a total transaction of $4,324,634.16. Following the sale, the director owned 3,494,768 shares in the company, valued at approximately $56,510,398.56. This represents a 7.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy Crain, II sold 100,000 shares of the firm’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $13.98, for a total value of $1,398,000.00. Following the completion of the sale, the senior vice president owned 351,279 shares of the company’s stock, valued at approximately $4,910,880.42. This represents a 22.16% 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. In the last quarter, insiders sold 12,201,528 shares of company stock worth $158,629,235. 54.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds have recently added to or reduced their stakes in the company. Calamos Advisors LLC bought a new stake in shares of Intuitive Machines during the first quarter worth $2,984,000. Fifth Third Bancorp bought a new position in shares of Intuitive Machines in the first quarter worth about $4,314,000. Raiffeisen Bank International AG purchased a new position in Intuitive Machines in the 2nd quarter worth about $3,565,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Intuitive Machines by 202.1% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 461,564 shares of the company’s stock valued at $8,567,000 after buying an additional 308,755 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Intuitive Machines in the 1st quarter valued at about $35,895,000. 72.21% of the stock is currently owned by institutional investors.

About Intuitive Machines

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and operates lunar landers, spacecraft, and related systems designed to deliver payloads to the Moon and support communications, navigation, and other lunar operations.

Its primary product platform is the Nova-C lunar lander, which is designed to transport scientific instruments, technology demonstrations, and commercial payloads to the lunar surface. Intuitive Machines also provides lunar data transmission and satellite communications services, autonomous navigation systems, precision landing technologies, and other products intended to support a broader lunar economy.

Founded in 2013 by Steve Altemus, who serves as president and chief executive officer, Intuitive Machines became a publicly traded company in 2024.