Intuitive Machines (NASDAQ:LUNR) Trading Down 5.9% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price dropped 5.9% during trading on Friday . The stock traded as low as $13.79 and last traded at $13.92. Approximately 14,847,946 shares changed hands during mid-day trading, an increase of 22% from the average session volume of 12,196,984 shares. The stock had previously closed at $14.79.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Roth Capital set a $30.00 target price on Intuitive Machines in a report on Thursday, August 13th. Cantor Fitzgerald decreased their target price on Intuitive Machines from $43.00 to $32.00 and set an “overweight” rating for the company in a research report on Friday, August 14th. Canaccord Genuity Group lowered their target price on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, August 18th. Zacks Research upgraded shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, B. Riley Financial lowered their price objective on shares of Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a research report on Friday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Intuitive Machines presently has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Intuitive Machines Trading Down 5.9%

The firm has a fifty day moving average of $15.15 and a two-hundred day moving average of $21.58. The company has a market cap of $3.19 billion, a PE ratio of -14.65 and a beta of 1.85.

Intuitive Machines (NASDAQ:LUNR) last issued its earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The business had revenue of $206.17 million for the quarter, compared to analysts’ expectations of $212.32 million. Sell-side analysts expect that Intuitive Machines, Inc. will post -0.6 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Steven Vontur sold 3,050 shares of Intuitive Machines stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $16.13, for a total value of $49,196.50. Following the completion of the transaction, the insider directly owned 113,997 shares in the company, valued at approximately $1,838,771.61. The trade was a 2.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder International L.P. Advent sold 11,495,514 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $12.84, for a total transaction of $147,602,399.76. Following the sale, the insider directly owned 11,495,514 shares in the company, valued at $147,602,399.76. The trade was a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 12,193,437 shares of company stock valued at $159,377,936. Company insiders own 54.10% of the company’s stock.

Institutional Trading of Intuitive Machines

A number of institutional investors have recently added to or reduced their stakes in LUNR. PNC Financial Services Group Inc. raised its holdings in shares of Intuitive Machines by 34.2% in 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 in the last quarter. Nations Financial Group Inc. IA ADV raised its position in Intuitive Machines by 9.9% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 11,080 shares of the company’s stock worth $206,000 after purchasing an additional 1,000 shares during the period. Larson Financial Group LLC increased its holdings in shares of Intuitive Machines by 63.2% in 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 period. Nykredit A S bought a new stake in shares of Intuitive Machines in the 2nd quarter valued at about $25,000. Finally, Handelsbanken Fonder AB boosted its holdings in Intuitive Machines by 3.6% during the 4th quarter. Handelsbanken Fonder AB now owns 34,400 shares of the company’s stock valued at $558,000 after acquiring an additional 1,200 shares during the period. Hedge funds and other institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and delivers lunar missions, spacecraft, and related services for government and commercial customers, with a focus on supporting a sustainable presence on the Moon.

Its activities include lunar payload delivery, spacecraft and lander development, lunar communications and navigation services, and the collection and transmission of data from the lunar surface. Intuitive Machines’ Nova-C lunar lander is designed to transport scientific instruments, technology demonstrations, and other payloads to the Moon.

Founded in 2013 by Stephen Altemus, who serves as president and chief executive officer, Intuitive Machines has supported NASA’s Commercial Lunar Payload Services program.