Intuitive Machines (NASDAQ:LUNR) Trading Down 4.5% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR) was down 4.5% during trading on Friday . The company traded as low as $15.92 and last traded at $16.14. Approximately 9,286,267 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 13,419,997 shares. The stock had previously closed at $16.90.

Analyst Ratings Changes

A number of brokerages have issued reports on LUNR. Canaccord Genuity Group lifted their target price on shares of Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Roth Capital increased their price target on shares of Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Wall Street Zen raised shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. Stifel Nicolaus set a $32.00 price objective on Intuitive Machines in a research report on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $34.00 price objective on shares of Intuitive Machines in a research report on Wednesday, May 20th. 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. Based on data from MarketBeat, Intuitive Machines presently has an average rating of “Hold” and an average price target of $31.50.

Intuitive Machines Stock Down 4.5%

The business’s fifty day moving average price is $28.12 and its 200 day moving average price is $22.62. The firm has a market capitalization of $3.50 billion, a PE ratio of -18.34 and a beta of 1.78.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data 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 company had revenue of $186.73 million for the quarter, compared to analyst estimates of $202.95 million. As a group, sell-side analysts forecast that Intuitive Machines, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intuitive Machines news, CFO Peter Mcgrath sold 24,554 shares of the stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total transaction of $579,719.94. Following the transaction, the chief financial officer owned 401,246 shares of the company’s stock, valued at $9,473,418.06. This represents a 5.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 firm’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $20.43, for a total value of $2,899,200.87. Following the sale, the director owned 3,494,768 shares in the company, valued at $71,398,110.24. This trade represents a 3.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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.

Institutional Trading of Intuitive Machines

Hedge funds have recently added to or reduced their stakes in the business. Tema ETFs LLC grew its holdings in Intuitive Machines by 139,768.2% in the 2nd quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock valued at $66,418,000 after buying an additional 3,102,854 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Intuitive Machines by 17.1% during the 2nd quarter. Handelsbanken Fonder AB now owns 49,400 shares of the company’s stock valued at $1,057,000 after acquiring an additional 7,200 shares during the last quarter. Bank of America Corp DE lifted its holdings 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 acquiring an additional 1,231,188 shares during the period. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Intuitive Machines during the 1st quarter worth about $59,000. Finally, Janus Henderson Group PLC boosted its position in shares of Intuitive Machines by 38.9% in the first quarter. Janus Henderson Group PLC now owns 51,100 shares of the company’s stock worth $947,000 after acquiring an additional 14,300 shares during the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

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.