Intuitive Machines (NASDAQ:LUNR) Stock Falls 2.6% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR) was down 2.6% during trading on Monday. The company traded as low as $15.13 and last traded at $15.20. 7,674,385 shares were traded during trading, a decline of 36% from the average daily volume of 12,070,464 shares. The stock had previously closed at $15.61.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Roth Capital set a $30.00 price target on shares of Intuitive Machines in a research report on Thursday, August 13th. Bank of America raised their price objective on shares of Intuitive Machines from $11.00 to $13.00 and gave the company an “underperform” rating in a research report on Monday, August 31st. Stifel Nicolaus raised shares of Intuitive Machines from a “hold” rating to a “buy” rating and dropped their target price for the stock from $32.00 to $26.00 in a report on Friday, August 14th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Intuitive Machines in a research note on Monday, September 21st. Finally, Zacks Research raised Intuitive Machines from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Intuitive Machines currently has an average rating of “Moderate Buy” and an average price target of $30.50.

Intuitive Machines Price Performance

The stock has a market cap of $3.33 billion, a P/E ratio of -15.32 and a beta of 1.85. The firm’s 50-day moving average price is $15.27 and its 200-day moving average price is $21.42.

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

Insider Activity at Intuitive Machines

In other news, SVP Timothy Crain, II sold 100,000 shares of the firm’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $13.98, for a total transaction of $1,398,000.00. Following the completion of the transaction, the senior vice president owned 351,279 shares in the company, valued at $4,910,880.42. This trade represents a 22.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder International L.P. Advent sold 11,495,514 shares of Intuitive Machines stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $12.84, for a total value of $147,602,399.76. Following the completion of the sale, the insider directly owned 11,495,514 shares in the company, valued at $147,602,399.76. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 12,201,528 shares of company stock worth $158,629,235 over the last 90 days. Company insiders own 54.10% of the company’s stock.

Institutional Trading of Intuitive Machines

Hedge funds have recently modified their holdings of the company. Nykredit A S purchased a new position in shares of Intuitive Machines in the second quarter valued at $25,000. State of Wyoming bought a new position in Intuitive Machines during the first quarter valued at $39,000. PNC Financial Services Group Inc. grew its stake 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 buying an additional 712 shares in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Intuitive Machines in the 1st quarter worth $59,000. Finally, KBC Group NV increased its holdings in shares of Intuitive Machines by 76.4% in the 1st quarter. KBC Group NV now owns 4,247 shares of the company’s stock worth $79,000 after buying an additional 1,840 shares during the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

Intuitive Machines Company Profile

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.