Intuitive Machines (NASDAQ:LUNR) Shares Down 1.3% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR) dropped 1.3% during mid-day trading on Thursday. The stock traded as low as $13.92 and last traded at $14.05. 8,225,504 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 12,005,788 shares. The stock had previously closed at $14.24.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Canaccord Genuity Group reduced their price objective on shares of Intuitive Machines from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, August 18th. Stifel Nicolaus raised Intuitive Machines from a “hold” rating to a “buy” rating and decreased their price target for the company from $32.00 to $26.00 in a research note on Friday, August 14th. Roth Capital set a $30.00 price objective on Intuitive Machines in a research note on Thursday, August 13th. Bank of America increased their target price on shares of Intuitive Machines from $11.00 to $13.00 and gave the company an “underperform” rating in a research report on Monday, August 31st. Finally, Zacks Research raised shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Intuitive Machines currently has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Intuitive Machines Stock Performance

The business has a 50 day moving average of $15.27 and a two-hundred day moving average of $21.40. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -14.79 and a beta of 1.85.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The firm had revenue of $206.17 million during the quarter, compared to analysts’ expectations of $212.32 million. On average, equities analysts predict that Intuitive Machines, Inc. will post -0.6 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In related news, Director Kamal Ghaffarian sold 1,698 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $16.00, for a total value of $27,168.00. Following the transaction, the director owned 3,494,768 shares of the company’s stock, valued at approximately $55,916,288. This trade represents a 0.05% decrease in their position. The sale 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, SVP Timothy Crain, II sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $15.05, for a total value of $752,500.00. Following the sale, the senior vice president directly owned 351,279 shares of the company’s stock, valued at $5,286,748.95. This represents a 12.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 12,201,528 shares of company stock worth $158,629,235. 54.10% of the stock is currently owned by insiders.

Institutional Trading of Intuitive Machines

Several institutional investors have recently made changes to their positions in the company. Tidal Investments LLC purchased a new stake in shares of Intuitive Machines in the second quarter valued at about $64,452,000. WINTON GROUP Ltd boosted its holdings in Intuitive Machines by 538.9% during the second quarter. WINTON GROUP Ltd now owns 171,857 shares of the company’s stock worth $3,676,000 after purchasing an additional 144,957 shares during the last quarter. Engineers Gate Manager LP purchased a new position in Intuitive Machines during the second quarter worth about $1,732,000. Integrated Wealth Concepts LLC bought a new stake in Intuitive Machines in the 2nd quarter worth about $88,000. Finally, Connective Capital Management LLC purchased a new stake in Intuitive Machines in the 2nd quarter valued at about $393,000. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and operates lunar landers, spacecraft, and related systems designed to deliver payloads to the Moon and support communications, navigation, and other lunar operations.

Its primary product platform is the Nova-C lunar lander, which is designed to transport scientific instruments, technology demonstrations, and commercial payloads to the lunar surface. Intuitive Machines also provides lunar data transmission and satellite communications services, autonomous navigation systems, precision landing technologies, and other products intended to support a broader lunar economy.

Founded in 2013 by Steve Altemus, who serves as president and chief executive officer, Intuitive Machines became a publicly traded company in 2024.