Intuitive Machines (NASDAQ:LUNR) Trading Down 3.3% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price traded down 3.3% during trading on Monday . The stock traded as low as $13.69 and last traded at $13.88. 5,013,077 shares were traded during mid-day trading, a decline of 59% from the average session volume of 12,278,877 shares. The stock had previously closed at $14.35.

Analyst Ratings Changes

Several research analysts have commented on the company. Roth Capital set a $30.00 price target on Intuitive Machines in a research report on Thursday, August 13th. Wall Street Zen raised shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a research report on Friday, July 17th. 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, Bank of America raised their target price on shares of Intuitive Machines from $11.00 to $13.00 and gave the company an “underperform” rating in a report on Monday, August 31st. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Intuitive Machines presently has an average rating of “Moderate Buy” and a consensus price target of $30.50.

Intuitive Machines Trading Down 0.1%

The firm has a 50 day moving average price of $15.26 and a two-hundred day moving average price of $21.62. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of -14.60 and a beta of 1.85.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The company had revenue of $206.17 million during the quarter, compared to analysts’ expectations of $212.32 million. As a group, research analysts forecast that Intuitive Machines, Inc. will post -0.6 earnings per share for the current year.

Insiders Place Their Bets

In other Intuitive Machines news, Director Kamal Ghaffarian sold 267,448 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $16.17, for a total transaction of $4,324,634.16. Following the transaction, the director directly owned 3,494,768 shares in the company, valued at $56,510,398.56. This represents a 7.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Vontur sold 3,050 shares of Intuitive Machines stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $16.13, for a total value of $49,196.50. Following the completion of the transaction, the insider owned 113,997 shares of the company’s stock, valued at $1,838,771.61. This trade represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 12,343,437 shares of company stock worth $162,658,436. 54.10% of the stock is owned by insiders.

Institutional Trading of Intuitive Machines

A number of institutional investors and hedge funds have recently modified their holdings of the business. Calamos Advisors LLC acquired a new stake in shares of Intuitive Machines in the 1st quarter worth about $2,984,000. Jefferies Financial Group Inc. bought a new stake in Intuitive Machines during the fourth quarter worth approximately $717,000. Fifth Third Bancorp bought a new stake in shares of Intuitive Machines in the 1st quarter worth $4,314,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in Intuitive Machines by 202.1% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 461,564 shares of the company’s stock worth $8,567,000 after acquiring an additional 308,755 shares in the last quarter. Finally, Trustees of the University of Pennsylvania acquired a new stake in Intuitive Machines during the fourth quarter valued at approximately $52,689,000. 72.21% of the stock is owned by institutional investors and hedge funds.

About Intuitive Machines

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and delivers lunar missions, spacecraft, and related services for government and commercial customers, with a focus on supporting a sustainable presence on the Moon.

Its activities include lunar payload delivery, spacecraft and lander development, lunar communications and navigation services, and the collection and transmission of data from the lunar surface. Intuitive Machines’ Nova-C lunar lander is designed to transport scientific instruments, technology demonstrations, and other payloads to the Moon.

Founded in 2013 by Stephen Altemus, who serves as president and chief executive officer, Intuitive Machines has supported NASA’s Commercial Lunar Payload Services program.