Intuitive Machines (NASDAQ:LUNR) Stock Falls 4.3% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price fell 4.3% during trading on Tuesday. The company traded as low as $14.54 and last traded at $14.55. Approximately 6,597,155 shares were traded during trading, a decline of 45% from the average session volume of 12,046,799 shares. The stock had previously closed at $15.20.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LUNR shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research report on Friday, July 17th. B. Riley Financial reduced their price target on shares of Intuitive Machines from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Stifel Nicolaus upgraded shares of Intuitive Machines from a “hold” rating to a “buy” rating and lowered their target price for the company from $32.00 to $26.00 in a research note on Friday, August 14th. Bank of America boosted their price target on Intuitive Machines from $11.00 to $13.00 and gave the company an “underperform” rating in a research note on Monday, August 31st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Intuitive Machines in a research report on Monday, September 21st. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $30.50.

Intuitive Machines Stock Performance

The business has a fifty day moving average price of $15.27 and a 200 day moving average price of $21.45. The company has a market cap of $3.33 billion, a price-to-earnings ratio of -15.32 and a beta of 1.85.

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

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, major shareholder International L.P. Advent sold 11,495,514 shares of the 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 completion of the sale, the insider owned 11,495,514 shares of the company’s stock, valued at $147,602,399.76. This represents a 50.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kamal Ghaffarian sold 267,448 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.17, for a total transaction of $4,324,634.16. Following the transaction, the director directly owned 3,494,768 shares of the company’s stock, valued at $56,510,398.56. This represents a 7.11% decrease in their position. 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. Insiders have sold 12,201,528 shares of company stock valued at $158,629,235 over the last ninety days. Insiders own 54.10% of the company’s stock.

Institutional Trading of Intuitive Machines

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nykredit A S acquired a new position in Intuitive Machines during the 2nd quarter valued at approximately $25,000. State of Wyoming acquired a new position in shares of Intuitive Machines during the 1st quarter valued at about $39,000. PNC Financial Services Group Inc. increased its stake in Intuitive Machines by 34.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock worth $52,000 after acquiring an additional 712 shares during the last quarter. JTC Employer Solutions Trustee Ltd purchased a new stake in Intuitive Machines in the first quarter valued at approximately $59,000. Finally, KBC Group NV grew its holdings in shares of Intuitive Machines by 76.4% in the first quarter. KBC Group NV now owns 4,247 shares of the company’s stock valued at $79,000 after purchasing an additional 1,840 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors.

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.