Intuitive Machines (NASDAQ:LUNR) Stock Price Down 4.6% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price was down 4.6% during trading on Wednesday . The stock traded as low as $16.72 and last traded at $17.02. 9,218,718 shares traded hands during trading, a decline of 32% from the average session volume of 13,493,451 shares. The stock had previously closed at $17.85.

Analyst Upgrades and Downgrades

LUNR has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $34.00 target price on shares of Intuitive Machines in a research note on Wednesday, May 20th. Stifel Nicolaus set a $32.00 target price on Intuitive Machines in a report on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday, April 21st. Zacks Research cut Intuitive Machines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Finally, Canaccord Genuity Group lifted their target price on shares of Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $31.50.

Intuitive Machines Price Performance

The company has a market capitalization of $3.69 billion, a P/E ratio of -19.34 and a beta of 1.78. The stock’s fifty day simple moving average is $28.46 and its 200-day simple moving average is $22.57.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The firm had revenue of $186.73 million during the quarter, compared to analyst estimates of $202.95 million. On average, research analysts predict that Intuitive Machines, Inc. will post -0.36 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Stephen J. Altemus sold 13,751 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total value of $324,661.11. Following the sale, the chief executive officer owned 1,162,495 shares in the company, valued at approximately $27,446,506.95. This trade represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kamal Seyed Ghaffarian sold 141,909 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $20.43, for a total transaction of $2,899,200.87. Following the transaction, the director directly owned 3,494,768 shares in the company, valued at $71,398,110.24. This trade represents a 3.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,066,527 shares of company stock worth $29,503,106. 54.10% of the stock is currently owned by company insiders.

Institutional Trading of Intuitive Machines

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jefferies Financial Group Inc. acquired a new stake in shares of Intuitive Machines during the 4th quarter worth approximately $717,000. Trustees of the University of Pennsylvania acquired a new position in shares of Intuitive Machines in the fourth quarter valued at $52,689,000. SBI Securities Co. Ltd. lifted its position in Intuitive Machines by 403.2% in the fourth quarter. SBI Securities Co. Ltd. now owns 191,783 shares of the company’s stock worth $3,113,000 after purchasing an additional 153,668 shares during the period. Comerica Bank lifted its position in Intuitive Machines by 55.5% in the fourth quarter. Comerica Bank now owns 221,701 shares of the company’s stock worth $3,598,000 after purchasing an additional 79,102 shares during the period. Finally, WINTON GROUP Ltd acquired a new stake in Intuitive Machines during the fourth quarter worth $1,908,000. 72.21% of the stock is currently 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.