Intuitive Machines (NASDAQ:LUNR) Shares Down 4.6% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price fell 4.6% during trading on Wednesday . The stock traded as low as $16.72 and last traded at $17.02. 9,218,718 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 13,493,451 shares. The stock had previously closed at $17.85.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LUNR shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $34.00 target price on shares of Intuitive Machines in a research report on Wednesday, May 20th. Roth Capital raised their price objective on Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Zacks Research cut Intuitive Machines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. KeyCorp boosted their price objective on Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Finally, Cantor Fitzgerald increased their target price on shares of Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $31.50.

Intuitive Machines Stock Down 4.5%

The stock has a fifty day simple moving average of $28.12 and a 200 day simple moving average of $22.62. The firm has a market capitalization of $3.50 billion, a P/E ratio of -18.34 and a beta of 1.78.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The firm had revenue of $186.73 million during the quarter, compared to analysts’ expectations of $202.95 million. Research analysts anticipate 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, CEO Stephen J. Altemus sold 13,751 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total transaction of $324,661.11. Following the completion of the sale, the chief executive officer directly owned 1,162,495 shares of the company’s stock, valued at $27,446,506.95. This trade represents a 1.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Peter Mcgrath sold 24,554 shares of Intuitive Machines stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total transaction of $579,719.94. Following the sale, the chief financial officer owned 401,246 shares in the company, valued at approximately $9,473,418.06. The trade was a 5.77% decrease in their position. 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. Insiders sold 1,066,527 shares of company stock worth $29,503,106 in the last quarter. 54.10% of the stock is owned by insiders.

Institutional Trading of Intuitive Machines

Institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new position in shares of Intuitive Machines during the 4th quarter valued at about $28,000. State of Wyoming bought a new position in Intuitive Machines during the first quarter valued at approximately $39,000. Larson Financial Group LLC grew its holdings in Intuitive Machines by 63.2% during the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock valued at $43,000 after buying an additional 1,016 shares in the last quarter. GAMMA Investing LLC grew its holdings in Intuitive Machines by 41.5% during the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after buying an additional 781 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in 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 acquiring an additional 712 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors.

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.