Intuitive Machines (NASDAQ:LUNR) Trading Down 6.1% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price traded down 6.1% during mid-day trading on Monday . The company traded as low as $15.02 and last traded at $15.15. Approximately 10,223,634 shares traded hands during trading, a decline of 24% from the average session volume of 13,383,131 shares. The stock had previously closed at $16.14.

Analyst Ratings Changes

Several analysts recently issued reports on LUNR shares. Stifel Nicolaus set a $32.00 price objective on shares of Intuitive Machines in a research note on Friday, May 15th. Wall Street Zen upgraded Intuitive Machines from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. Cantor Fitzgerald raised their price target on shares of Intuitive Machines from $26.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Roth Capital increased their price objective on shares of Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $34.00 target price on shares of Intuitive Machines in a research note on Wednesday, May 20th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $31.50.

Intuitive Machines Price Performance

The company has a market cap of $3.24 billion, a price-to-earnings ratio of -16.94 and a beta of 1.78. The business’s fifty day moving average price is $27.55 and its 200 day moving average price is $22.60.

Intuitive Machines (NASDAQ:LUNR) last announced its earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The business had revenue of $186.73 million during the quarter, compared to analysts’ expectations of $202.95 million. As a group, equities research analysts anticipate that Intuitive Machines, Inc. will post -0.36 EPS for the current year.

Insider Transactions at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 150,000 shares of the company’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $21.87, for a total value of $3,280,500.00. Following the sale, the senior vice president directly owned 351,279 shares of the company’s stock, valued at approximately $7,682,471.73. This represents a 29.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kamal Seyed Ghaffarian sold 141,909 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $39.02, for a total transaction of $5,537,289.18. Following the sale, the director owned 3,494,768 shares of the company’s stock, valued at approximately $136,365,847.36. This trade represents a 3.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,019,775 shares of company stock worth $28,399,292. Company insiders own 54.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Tema ETFs LLC boosted its position in shares of Intuitive Machines by 139,768.2% during 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 in the last quarter. Handelsbanken Fonder AB lifted its stake in Intuitive Machines by 17.1% in the second quarter. Handelsbanken Fonder AB now owns 49,400 shares of the company’s stock valued at $1,057,000 after buying an additional 7,200 shares during the period. Bank of America Corp DE boosted its holdings in shares of Intuitive Machines by 188.9% during the 1st quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock worth $34,948,000 after buying an additional 1,231,188 shares in the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Intuitive Machines during the 1st quarter worth approximately $59,000. Finally, Janus Henderson Group PLC lifted its position in shares of Intuitive Machines by 38.9% during the 1st quarter. Janus Henderson Group PLC now owns 51,100 shares of the company’s stock valued at $947,000 after acquiring an additional 14,300 shares during the period. 72.21% of the stock is owned by institutional investors.

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.