Intuitive Machines (NASDAQ:LUNR) Shares Down 5.5% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price fell 5.5% during mid-day trading on Tuesday . The stock traded as low as $16.17 and last traded at $17.85. 7,731,092 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 13,518,197 shares. The stock had previously closed at $18.89.

Wall Street Analyst Weigh In

Several research firms recently weighed in on LUNR. KeyCorp boosted 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. Stifel Nicolaus set a $32.00 price objective on Intuitive Machines in a research report on Friday, May 15th. Roth Capital raised their price objective on shares of Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Canaccord Genuity Group boosted their target price on shares of Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Finally, Zacks Research cut shares of Intuitive Machines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Eight 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, the stock presently has a consensus rating of “Hold” and an average target price of $31.50.

Intuitive Machines Trading Down 5.5%

The firm has a market cap of $3.87 billion, a price-to-earnings ratio of -20.28 and a beta of 1.78. The company has a 50 day moving average of $28.62 and a 200 day moving average of $22.51.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The company had revenue of $186.73 million during the quarter, compared to analyst estimates of $202.95 million. As a group, sell-side analysts anticipate that Intuitive Machines, Inc. will post -0.36 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intuitive Machines news, SVP Timothy Price Crain II sold 150,000 shares of the stock in a transaction dated 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 sale, the senior vice president owned 351,279 shares of the company’s stock, valued at $7,682,471.73. This represents a 29.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kamal Seyed Ghaffarian sold 141,909 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $20.43, for a total transaction of $2,899,200.87. Following the completion of the transaction, the director directly owned 3,494,768 shares of the company’s stock, valued at approximately $71,398,110.24. This represents a 3.90% decrease in their ownership of the stock. 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 three months, insiders have sold 1,066,527 shares of company stock valued at $29,503,106. 54.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently modified their holdings of the business. Trustees of the University of Pennsylvania acquired a new stake in Intuitive Machines during the 4th quarter worth $52,689,000. UBS Group AG lifted its stake in Intuitive Machines by 22.0% in the fourth quarter. UBS Group AG now owns 3,095,383 shares of the company’s stock valued at $50,238,000 after buying an additional 557,517 shares during the period. Geode Capital Management LLC grew its position in shares of Intuitive Machines by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 2,735,161 shares of the company’s stock worth $44,399,000 after buying an additional 61,084 shares during the period. Bank of America Corp DE increased its stake in shares of Intuitive Machines by 18.4% in the 3rd quarter. Bank of America Corp DE now owns 2,677,305 shares of the company’s stock valued at $28,165,000 after acquiring an additional 415,359 shares during the last quarter. Finally, First Trust Advisors LP raised its position in shares of Intuitive Machines by 3,582.9% in the 3rd quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock valued at $25,809,000 after acquiring an additional 2,386,688 shares during the period. 72.21% of the stock is owned by institutional investors.

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.