Intuitive Machines (NASDAQ:LUNR) Stock Price Down 9.3% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares traded down 9.3% during trading on Tuesday . The company traded as low as $23.05 and last traded at $23.36. 15,769,321 shares changed hands during trading, an increase of 16% from the average session volume of 13,639,877 shares. The stock had previously closed at $25.76.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Cantor Fitzgerald lifted their target price on Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Roth Mkm lifted their target price on Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Stifel Nicolaus set a $32.00 price target on Intuitive Machines in a research report on Friday, May 15th. B. Riley Financial boosted their price target on Intuitive Machines to $45.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Zacks Research cut Intuitive Machines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $31.50.

Intuitive Machines Trading Down 9.2%

The company has a 50 day moving average price of $29.92 and a 200 day moving average price of $21.44. The firm has a market cap of $5.08 billion, a PE ratio of -26.59 and a beta of 1.68.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate 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. As a group, equities research analysts anticipate that Intuitive Machines, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 8,447 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 $199,433.67. Following the sale, the senior vice president owned 351,279 shares of the company’s stock, valued at $8,293,697.19. The trade was a 2.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Intuitive Machines stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $39.02, for a total value of $5,537,289.18. Following the transaction, the director owned 3,494,768 shares of the company’s stock, valued at $136,365,847.36. This represents a 3.90% decrease in their ownership of the stock. 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 three months, insiders have sold 1,208,436 shares of company stock worth $30,867,376. Corporate insiders own 54.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Bank of America Corp DE raised its position in shares of Intuitive Machines by 188.9% during the 1st quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock worth $34,948,000 after purchasing an additional 1,231,188 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new position in Intuitive Machines in the 1st quarter valued at $59,000. Janus Henderson Group PLC raised its holdings in Intuitive Machines by 38.9% in the 1st quarter. Janus Henderson Group PLC now owns 51,100 shares of the company’s stock valued at $947,000 after acquiring an additional 14,300 shares during the last quarter. California State Teachers Retirement System raised its holdings in Intuitive Machines by 28.2% in the 1st quarter. California State Teachers Retirement System now owns 126,442 shares of the company’s stock valued at $2,347,000 after acquiring an additional 27,793 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Intuitive Machines by 2.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 53,679 shares of the company’s stock valued at $996,000 after acquiring an additional 1,235 shares during the last quarter. 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.