Intuitive Machines (NASDAQ:LUNR) Shares Down 2.2% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR) shares fell 2.2% on Thursday . The stock traded as low as $17.91 and last traded at $18.70. 10,394,102 shares traded hands during mid-day trading, a decline of 24% from the average session volume of 13,609,275 shares. The stock had previously closed at $19.13.

Wall Street Analyst Weigh In

LUNR has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $34.00 target price on shares of Intuitive Machines in a research note on Wednesday, May 20th. Canaccord Genuity Group upped their price target on Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Stifel Nicolaus set a $32.00 target price on Intuitive Machines in a report on Friday, May 15th. Roth Mkm upped their price target on shares of Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a report on Friday, April 17th. Finally, Wall Street Zen upgraded Intuitive Machines from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Eight investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $31.50.

Intuitive Machines Trading Down 2.2%

The company has a market capitalization of $4.06 billion, a P/E ratio of -21.25 and a beta of 1.68. The firm’s 50 day moving average price is $29.74 and its two-hundred day moving average price is $22.05.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The firm had revenue of $186.73 million for the quarter, compared to analyst estimates of $202.95 million. Analysts anticipate that Intuitive Machines, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $26.15, for a total value of $3,710,920.35. Following the sale, the director owned 3,494,768 shares of the company’s stock, valued at approximately $91,388,183.20. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William John Liquori, Jr. sold 18,321 shares of the company’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $29.87, for a total value of $547,248.27. Following the sale, the director owned 68,875 shares in the company, valued at $2,057,296.25. The trade was a 21.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 1,066,527 shares of company stock worth $29,896,194. 54.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LUNR. International Assets Investment Management LLC bought a new stake in shares of Intuitive Machines during the 4th quarter worth approximately $28,000. State of Wyoming bought a new position in shares of Intuitive Machines in the first quarter valued at $39,000. Larson Financial Group LLC increased its holdings in Intuitive Machines by 63.2% during the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after buying an additional 1,016 shares during the last quarter. GAMMA Investing LLC increased its holdings in Intuitive Machines by 41.5% during the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after buying an additional 781 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its position in Intuitive Machines by 34.2% during the first 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 in the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

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.