Intuitive Machines (NASDAQ:LUNR) Trading Down 8.1% – Here’s What Happened

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) fell 8.1% on Wednesday . The company traded as low as $17.58 and last traded at $17.7490. Approximately 2,481,539 shares were traded during trading, a decline of 81% from the average daily volume of 12,890,815 shares. The stock had previously closed at $19.31.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LUNR shares. B. Riley Financial dropped their target price on Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Wall Street Zen upgraded shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. Stifel Nicolaus raised shares of Intuitive Machines from a “hold” rating to a “buy” rating and reduced their price target for the company from $32.00 to $26.00 in a research report on Friday, August 14th. KeyCorp boosted their price objective on shares of Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Finally, Canaccord Genuity Group lowered their price objective on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Intuitive Machines currently has a consensus rating of “Moderate Buy” and an average target price of $30.06.

Intuitive Machines Stock Performance

The stock has a 50-day simple moving average of $17.40 and a two-hundred day simple moving average of $21.88. The firm has a market cap of $3.89 billion, a PE ratio of -18.87 and a beta of 1.83.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The firm had revenue of $206.17 million for the quarter, compared to analysts’ expectations of $212.32 million. As a group, sell-side analysts anticipate that Intuitive Machines, Inc. will post -0.64 EPS for the current fiscal year.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Price Crain II sold 150,000 shares of the business’s stock in a transaction 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 completion of the sale, the senior vice president directly owned 351,279 shares in the company, valued at approximately $7,682,471.73. The trade was a 29.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 stock in a transaction on Monday, June 8th. The shares were sold at an average price of $29.87, for a total value of $547,248.27. Following the transaction, the director directly owned 68,875 shares in the company, valued at $2,057,296.25. The trade was a 21.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 12,404,313 shares of company stock worth $168,526,592 in the last three months. 54.10% of the stock is currently owned by company insiders.

Institutional Trading of Intuitive Machines

Hedge funds have recently bought and sold shares of the company. Invesco Ltd. boosted its position in Intuitive Machines by 19.7% in the first quarter. Invesco Ltd. now owns 16,092 shares of the company’s stock worth $120,000 after purchasing an additional 2,643 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Intuitive Machines by 43.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,715 shares of the company’s stock valued at $184,000 after purchasing an additional 7,528 shares during the last quarter. Caxton Associates LLP purchased a new stake in shares of Intuitive Machines during the 1st quarter valued at about $139,000. Creative Planning lifted its stake in shares of Intuitive Machines by 29.3% in the 2nd quarter. Creative Planning now owns 30,407 shares of the company’s stock worth $331,000 after purchasing an additional 6,886 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of Intuitive Machines by 15.3% in the 2nd quarter. Cetera Investment Advisers now owns 18,835 shares of the company’s stock worth $205,000 after purchasing an additional 2,506 shares during the period. 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.