Intuitive Machines (NASDAQ:LUNR) Issues Earnings Results, Misses Expectations By $0.29 EPS

Intuitive Machines (NASDAQ:LUNR) released its quarterly earnings results on Thursday. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.29), FiscalAI reports. The company had revenue of $44.79 million for the quarter, compared to analysts’ expectations of $53.37 million.

Intuitive Machines Stock Down 4.2%

Shares of NASDAQ LUNR opened at $18.11 on Thursday. The firm has a 50-day simple moving average of $18.42 and a 200-day simple moving average of $13.86. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of -7.33 and a beta of 1.40. Intuitive Machines has a 52 week low of $6.14 and a 52 week high of $23.32.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Price Crain II sold 200,000 shares of the stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $16.04, for a total value of $3,208,000.00. Following the completion of the sale, the senior vice president owned 298,435 shares in the company, valued at approximately $4,786,897.40. This represents a 40.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen J. Altemus sold 1,958,593 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $15.77, for a total transaction of $30,887,011.61. Following the completion of the transaction, the chief executive officer directly owned 1,026,402 shares in the company, valued at $16,186,359.54. This trade represents a 65.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 3,689,913 shares of company stock worth $62,240,781 over the last 90 days. 39.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

Large investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in shares of Intuitive Machines by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 2,735,161 shares of the company’s stock valued at $44,399,000 after purchasing an additional 61,084 shares during the last quarter. Bank of America Corp DE grew its holdings in Intuitive Machines by 18.4% in the 3rd quarter. Bank of America Corp DE now owns 2,677,305 shares of the company’s stock valued at $28,165,000 after buying an additional 415,359 shares in the last quarter. UBS Group AG increased its stake in shares of Intuitive Machines by 53.4% in the 3rd quarter. UBS Group AG now owns 2,537,866 shares of the company’s stock worth $26,698,000 after acquiring an additional 883,513 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Intuitive Machines by 3,582.9% in the 3rd quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock worth $25,809,000 after acquiring an additional 2,386,688 shares during the last quarter. Finally, ARK Investment Management LLC raised its holdings in shares of Intuitive Machines by 11.0% during the 4th quarter. ARK Investment Management LLC now owns 2,301,523 shares of the company’s stock worth $37,354,000 after acquiring an additional 228,290 shares during the period. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Zacks Research raised shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. KeyCorp boosted their target price on shares of Intuitive Machines from $20.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Cantor Fitzgerald restated an “overweight” rating on shares of Intuitive Machines in a research report on Wednesday, December 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a report on Thursday, January 22nd. Finally, Stifel Nicolaus set a $20.00 price objective on Intuitive Machines and gave the stock a “hold” rating in a research note on Friday, January 9th. Nine investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.80.

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.