Intuitive Machines (NASDAQ:LUNR) Shares Down 3.3% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price fell 3.3% on Monday . The company traded as low as $13.69 and last traded at $13.88. Approximately 5,013,077 shares were traded during trading, a decline of 59% from the average session volume of 12,278,877 shares. The stock had previously closed at $14.35.

Analyst Upgrades and Downgrades

Several research firms have issued reports on LUNR. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $34.00 price target on shares of Intuitive Machines in a research report on Wednesday, May 20th. Bank of America raised their price objective on Intuitive Machines from $11.00 to $13.00 and gave the stock an “underperform” rating in a research note on Monday, August 31st. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a report on Friday, July 17th. Zacks Research raised Intuitive Machines from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, Wall Street Zen raised Intuitive Machines from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Intuitive Machines Price Performance

The stock’s fifty day moving average price is $15.44 and its 200-day moving average price is $21.67. The firm has a market cap of $3.18 billion, a price-to-earnings ratio of -14.61 and a beta of 1.85.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The company had revenue of $206.17 million for the quarter, compared to analyst estimates of $212.32 million. As a group, equities research analysts predict that Intuitive Machines, Inc. will post -0.6 EPS for the current fiscal year.

Insider Activity

In other news, insider Steven Vontur sold 3,050 shares of Intuitive Machines stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $16.13, for a total transaction of $49,196.50. Following the transaction, the insider owned 113,997 shares in the company, valued at approximately $1,838,771.61. The trade was a 2.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 Intuitive Machines stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $12.84, for a total value of $147,602,399.76. Following the transaction, the insider owned 11,495,514 shares in the company, valued at $147,602,399.76. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,343,437 shares of company stock valued at $162,658,436 in the last 90 days. Company insiders own 54.10% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors have recently bought and sold shares of LUNR. Tema ETFs LLC increased its holdings in shares of Intuitive Machines by 139,768.2% in the 2nd quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock valued at $66,418,000 after purchasing an additional 3,102,854 shares during the period. California State Teachers Retirement System boosted its holdings in shares of Intuitive Machines by 2,309.3% during the second quarter. California State Teachers Retirement System now owns 3,046,364 shares of the company’s stock worth $65,162,000 after purchasing an additional 2,919,922 shares during the period. Tidal Investments LLC acquired a new stake in shares of Intuitive Machines during the second quarter worth approximately $64,452,000. Trustees of the University of Pennsylvania purchased a new position in Intuitive Machines during the fourth quarter valued at approximately $52,689,000. Finally, Renaissance Technologies LLC purchased a new position in Intuitive Machines during the first quarter valued at approximately $35,895,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Machines Company Profile

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.