Intuitive Machines (NASDAQ:LUNR) Shares Down 3.4% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price fell 3.4% on Wednesday . The company traded as low as $26.07 and last traded at $26.54. 8,373,552 shares traded hands during trading, a decline of 38% from the average session volume of 13,482,915 shares. The stock had previously closed at $27.47.

Analyst Ratings Changes

A number of research firms recently weighed in on LUNR. Canaccord Genuity Group upped their target price on shares of Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday, April 21st. Roth Mkm upped their target price on shares of Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $34.00 target price on shares of Intuitive Machines in a research report on Wednesday, May 20th. Finally, Zacks Research lowered shares of Intuitive Machines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $31.50.

Intuitive Machines Stock Down 3.4%

The firm has a market capitalization of $5.76 billion, a P/E ratio of -30.15 and a beta of 1.68. The firm’s 50-day simple moving average is $29.31 and its 200-day simple moving average is $20.92.

Intuitive Machines (NASDAQ:LUNR) last announced its earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The business had revenue of $186.73 million for the quarter, compared to analyst estimates of $202.95 million. As a group, analysts expect that Intuitive Machines, Inc. will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other news, Director William John Liquori, Jr. sold 18,321 shares of the business’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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Stephen J. Altemus sold 13,751 shares of the business’s stock in a transaction that occurred on Wednesday, April 15th. The stock was 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. The trade was a 1.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,208,436 shares of company stock valued at $30,867,376 over the last quarter. Company insiders own 54.10% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC bought a new stake in shares of Intuitive Machines in the 4th quarter worth approximately $28,000. State of Wyoming bought a new stake in shares of Intuitive Machines in the 1st quarter worth approximately $39,000. Larson Financial Group LLC lifted its holdings in shares of Intuitive Machines by 63.2% in the 4th 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. GAMMA Investing LLC lifted its holdings in shares of Intuitive Machines by 41.5% in the 4th 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. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Intuitive Machines by 34.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock worth $52,000 after acquiring an additional 712 shares during the last quarter. 72.21% of the stock is currently owned by 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.