Intuitive Machines (NASDAQ:LUNR) Trading Down 3.2% – Should You Sell?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) dropped 3.2% on Monday . The company traded as low as $25.57 and last traded at $25.76. Approximately 14,671,868 shares were traded during trading, an increase of 7% from the average daily volume of 13,650,708 shares. The stock had previously closed at $26.62.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LUNR. KeyCorp increased their price objective on Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a research report on Tuesday, April 21st. Canaccord Genuity Group increased their price objective on Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Wall Street Zen upgraded Intuitive Machines from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $34.00 price objective on shares of Intuitive Machines in a research report on Wednesday, May 20th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $31.50.

Intuitive Machines Stock Performance

The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of -25.82 and a beta of 1.68. The firm has a fifty day moving average price of $29.90 and a 200-day moving average price of $21.64.

Intuitive Machines (NASDAQ:LUNR) last released its earnings results 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 firm had revenue of $186.73 million during the quarter, compared to the consensus estimate of $202.95 million. On average, sell-side analysts forecast that Intuitive Machines, Inc. will post -0.35 EPS for the current fiscal year.

Insider Activity at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 141,909 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $26.15, for a total transaction of $3,710,920.35. Following the sale, the director directly owned 3,494,768 shares of the company’s stock, valued at approximately $91,388,183.20. This represents a 3.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $579,719.94. Following the sale, the chief financial officer directly owned 401,246 shares in the company, valued at approximately $9,473,418.06. This trade represents a 5.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 1,350,345 shares of company stock worth $34,578,296 in the last quarter. 54.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Intuitive Machines

Several large investors have recently bought and sold shares of LUNR. Invesco Ltd. boosted its stake in Intuitive Machines by 19.7% in the first quarter. Invesco Ltd. now owns 16,092 shares of the company’s stock valued at $120,000 after buying an additional 2,643 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Intuitive Machines by 43.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,715 shares of the company’s stock valued at $184,000 after buying an additional 7,528 shares in the last quarter. Caxton Associates LLP acquired a new stake in Intuitive Machines in the first quarter valued at about $139,000. Creative Planning boosted its stake in Intuitive Machines by 29.3% in the second quarter. Creative Planning now owns 30,407 shares of the company’s stock valued at $331,000 after buying an additional 6,886 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in Intuitive Machines by 15.3% in the second quarter. Cetera Investment Advisers now owns 18,835 shares of the company’s stock valued at $205,000 after buying an additional 2,506 shares in 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.