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

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on LUNR shares. Zacks Research raised Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. B. Riley Financial dropped their target price on shares of Intuitive Machines from $45.00 to $43.00 and set a “buy” rating for the company in a report on Friday, August 14th. Bank of America raised their price target on shares of Intuitive Machines from $11.00 to $13.00 and gave the company an “underperform” rating in a research note on Monday, August 31st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a report on Friday, July 17th. Finally, Canaccord Genuity Group lowered their price objective on shares of Intuitive Machines from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Tuesday, August 18th. Seven investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Intuitive Machines Trading Up 4.7%

The firm has a market capitalization of $3.37 billion, a P/E ratio of -15.48 and a beta of 1.86. The company has a 50-day moving average of $15.31 and a 200-day moving average of $21.33.

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

Insider Buying and Selling

In other Intuitive Machines news, SVP Timothy Crain, II sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $15.05, for a total transaction of $752,500.00. Following the completion of the transaction, the senior vice president owned 351,279 shares in the company, valued at approximately $5,286,748.95. This trade represents a 12.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Vontur sold 3,050 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider owned 113,997 shares in the company, valued at $1,838,771.61. This trade represents a 2.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 12,201,528 shares of company stock valued at $158,629,235. Insiders own 54.10% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Several large investors have recently modified their holdings of the company. Tema ETFs LLC grew its holdings in Intuitive Machines by 139,768.2% during the 2nd quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock worth $66,418,000 after acquiring an additional 3,102,854 shares during the period. Tidal Investments LLC bought a new stake in shares of Intuitive Machines during the 2nd quarter valued at about $64,452,000. Renaissance Technologies LLC acquired a new stake in Intuitive Machines during the first quarter worth approximately $35,895,000. Bank of America Corp DE grew its stake in Intuitive Machines by 188.9% during the first quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock worth $34,948,000 after purchasing an additional 1,231,188 shares during the period. Finally, First Trust Advisors LP increased its holdings in Intuitive Machines by 28.8% in the first quarter. First Trust Advisors LP now owns 657,318 shares of the company’s stock worth $12,200,000 after purchasing an additional 147,095 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

About Intuitive Machines

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.