Intuitive Machines (NASDAQ:LUNR) Trading Down 12.8% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR) shares traded down 12.8% during mid-day trading on Monday . The company traded as low as $37.80 and last traded at $38.21. 15,942,900 shares traded hands during trading, an increase of 17% from the average session volume of 13,582,653 shares. The stock had previously closed at $43.83.

Analysts Set New Price Targets

Several research firms recently commented on LUNR. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $34.00 price target on shares of Intuitive Machines in a report on Wednesday, May 20th. Wall Street Zen raised shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. B. Riley Financial raised their target price on shares of Intuitive Machines to $45.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday, April 21st. Finally, Zacks Research cut shares of Intuitive Machines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Intuitive Machines has an average rating of “Hold” and a consensus target price of $31.50.

Intuitive Machines Stock Performance

The stock has a market cap of $8.59 billion, a PE ratio of -44.97 and a beta of 1.68. The stock has a fifty day simple moving average of $27.71 and a two-hundred day simple moving average of $19.94.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The firm had revenue of $186.73 million for the quarter, compared to the consensus estimate of $202.95 million. On average, equities analysts predict that Intuitive Machines, Inc. will post -0.35 EPS for the current fiscal year.

Insider Activity

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 141,909 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $34.25, for a total value of $4,860,383.25. Following the transaction, the director owned 3,494,768 shares in the company, valued at $119,695,804. The trade was a 3.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy Price Crain II sold 8,447 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total transaction of $199,433.67. Following the completion of the transaction, the senior vice president directly owned 351,279 shares of the company’s stock, valued at approximately $8,293,697.19. The trade was a 2.35% decrease in their ownership of the stock. 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 quarter, insiders sold 1,048,206 shares of company stock worth $24,782,839. Corporate insiders own 54.10% of the company’s stock.

Institutional Trading of Intuitive Machines

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Intuitive Machines by 13.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,090,059 shares of the company’s stock worth $64,067,000 after buying an additional 717,256 shares during the last quarter. Trustees of the University of Pennsylvania acquired a new stake in shares of Intuitive Machines during the 4th quarter valued at approximately $52,689,000. UBS Group AG grew its position in shares of Intuitive Machines by 22.0% during the fourth quarter. UBS Group AG now owns 3,095,383 shares of the company’s stock worth $50,238,000 after acquiring an additional 557,517 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Intuitive Machines by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 2,735,161 shares of the company’s stock worth $44,399,000 after acquiring an additional 61,084 shares during the period. Finally, Bank of America Corp DE lifted its position in Intuitive Machines by 18.4% in the 3rd quarter. Bank of America Corp DE now owns 2,677,305 shares of the company’s stock valued at $28,165,000 after purchasing an additional 415,359 shares during the last quarter. 72.21% of the stock is owned by institutional investors.

Intuitive Machines Company Profile

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.