Intuitive Machines (NASDAQ:LUNR) Stock Falls 2.6% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) dropped 2.6% during mid-day trading on Monday. The stock traded as low as $15.13 and last traded at $15.20. Approximately 7,674,385 shares were traded during mid-day trading, a decline of 36% from the average session volume of 12,070,464 shares. The stock had previously closed at $15.61.

Analyst Ratings Changes

A number of analysts recently commented on LUNR shares. Cantor Fitzgerald restated an “overweight” rating on shares of Intuitive Machines in a research note on Monday, September 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a research note on Friday, July 17th. Zacks Research raised shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Canaccord Genuity Group dropped their target price on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, August 18th. Finally, Roth Capital set a $30.00 target price on Intuitive Machines in a research report on Thursday, August 13th. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Intuitive Machines Stock Down 2.6%

The business’s 50-day moving average price is $15.24 and its 200 day moving average price is $21.47. The company has a market capitalization of $3.48 billion, a P/E ratio of -16.00 and a beta of 1.85.

Intuitive Machines (NASDAQ:LUNR) last posted its earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates 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. Analysts anticipate 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 the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $16.13, for a total value of $49,196.50. Following the transaction, the insider owned 113,997 shares of the company’s stock, valued at approximately $1,838,771.61. This represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, SVP Timothy Crain, II sold 100,000 shares of the company’s stock in a transaction on Friday, September 18th. The stock was sold at an average price of $13.98, for a total transaction of $1,398,000.00. Following the completion of the transaction, the senior vice president directly owned 351,279 shares in the company, valued at approximately $4,910,880.42. The trade was a 22.16% decrease in their position. The SEC filing for this sale provides additional information. 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 90 days. Company insiders own 54.10% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC purchased a new stake in shares of Intuitive Machines in the 2nd quarter valued at about $64,452,000. WINTON GROUP Ltd grew its holdings in shares of Intuitive Machines by 538.9% during the second quarter. WINTON GROUP Ltd now owns 171,857 shares of the company’s stock worth $3,676,000 after purchasing an additional 144,957 shares in the last quarter. Engineers Gate Manager LP purchased a new position in shares of Intuitive Machines during the second quarter worth about $1,732,000. Integrated Wealth Concepts LLC purchased a new position in shares of Intuitive Machines during the second quarter worth about $88,000. Finally, Connective Capital Management LLC bought a new position in shares of Intuitive Machines in the second quarter worth approximately $393,000. 72.21% of the stock is currently owned by institutional investors.

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.