Intuitive Machines (NASDAQ:LUNR) Stock Price Down 6.1% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) dropped 6.1% on Monday . The company traded as low as $15.02 and last traded at $15.15. Approximately 10,223,634 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 13,383,131 shares. The stock had previously closed at $16.14.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. B. Riley Financial restated a “buy” rating on shares of Intuitive Machines in a research report on Wednesday, June 24th. Zacks Research downgraded shares of Intuitive Machines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Canaccord Genuity Group raised their price target on shares of Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Cantor Fitzgerald upped their price objective on Intuitive Machines from $26.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Finally, KeyCorp upped 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. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Intuitive Machines currently has a consensus rating of “Hold” and an average price target of $31.50.

Intuitive Machines Stock Performance

The firm has a market capitalization of $3.29 billion, a P/E ratio of -17.22 and a beta of 1.78. The stock has a 50 day moving average of $27.95 and a 200-day moving average of $22.62.

Intuitive Machines (NASDAQ:LUNR) last issued its earnings results 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 business had revenue of $186.73 million for the quarter, compared to analysts’ expectations of $202.95 million. As a group, sell-side analysts expect that Intuitive Machines, Inc. will post -0.36 EPS for the current year.

Insider Buying and Selling

In other Intuitive Machines news, CEO Stephen J. Altemus sold 13,751 shares of Intuitive Machines stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total transaction of $324,661.11. Following the completion of the transaction, the chief executive officer owned 1,162,495 shares of the company’s stock, valued at $27,446,506.95. The trade was a 1.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Timothy Price Crain II sold 150,000 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $21.87, for a total transaction of $3,280,500.00. Following the transaction, the senior vice president directly owned 351,279 shares of the company’s stock, valued at approximately $7,682,471.73. This represents a 29.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,066,527 shares of company stock valued at $29,503,106. 54.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently made changes to their positions in LUNR. International Assets Investment Management LLC bought a new stake in Intuitive Machines during the fourth quarter valued at $28,000. State of Wyoming bought a new position in Intuitive Machines in the 1st quarter worth about $39,000. Larson Financial Group LLC increased its stake in Intuitive Machines by 63.2% in the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after acquiring an additional 1,016 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Intuitive Machines by 41.5% in the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after acquiring an additional 781 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Intuitive Machines by 34.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock valued at $52,000 after acquiring an additional 712 shares during the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

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.