Intuitive Machines (NASDAQ:LUNR) Stock Price Down 5.5% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price fell 5.5% during mid-day trading on Tuesday . The stock traded as low as $16.17 and last traded at $17.85. 7,731,092 shares traded hands during trading, a decline of 43% from the average session volume of 13,518,197 shares. The stock had previously closed at $18.89.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus set a $32.00 price objective on shares of Intuitive Machines in a research report on Friday, May 15th. Cantor Fitzgerald raised their target price on shares of Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. B. Riley Financial reaffirmed a “buy” rating on shares of Intuitive Machines in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $34.00 price target on shares of Intuitive Machines in a research note on Wednesday, May 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $31.50.

Intuitive Machines Price Performance

The firm’s 50-day moving average is $28.28 and its 200 day moving average is $22.61. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of -19.16 and a beta of 1.78.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The business had revenue of $186.73 million for the quarter, compared to the consensus estimate of $202.95 million. On average, sell-side analysts forecast that Intuitive Machines, Inc. will post -0.36 EPS for the current year.

Insider Transactions at Intuitive Machines

In related news, CEO Stephen J. Altemus sold 13,751 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total transaction of $324,661.11. Following the completion of the sale, the chief executive officer owned 1,162,495 shares of the company’s stock, valued at approximately $27,446,506.95. This represents a 1.17% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 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 transaction 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. The trade was a 21.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,066,527 shares of company stock worth $29,503,106 in the last three months. 54.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds have recently made changes to their positions in LUNR. PNC Financial Services Group Inc. boosted its position in Intuitive Machines by 34.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock worth $52,000 after purchasing an additional 712 shares during the period. GAMMA Investing LLC boosted its position 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 buying an additional 781 shares during the period. Sigma Planning Corp boosted its position in shares of Intuitive Machines by 8.8% in the fourth quarter. Sigma Planning Corp now owns 10,947 shares of the company’s stock worth $178,000 after buying an additional 886 shares during the period. Nations Financial Group Inc. IA ADV grew its stake in shares of Intuitive Machines by 9.9% in the first quarter. Nations Financial Group Inc. IA ADV now owns 11,080 shares of the company’s stock valued at $206,000 after buying an additional 1,000 shares in the last quarter. Finally, Larson Financial Group LLC grew 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 valued at $43,000 after buying an additional 1,016 shares in the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

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.