Intuitive Machines (NASDAQ:LUNR) Stock Price Down 2.7% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR) was down 2.7% on Wednesday . The company traded as low as $22.64 and last traded at $22.72. Approximately 12,050,275 shares changed hands during trading, a decline of 12% from the average daily volume of 13,657,432 shares. The stock had previously closed at $23.36.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on LUNR shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $34.00 price objective on shares of Intuitive Machines in a research note on Wednesday, May 20th. KeyCorp upped their price objective on Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Canaccord Genuity Group upped their price objective on Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Stifel Nicolaus set a $32.00 price objective on Intuitive Machines in a research note on Friday, May 15th. Finally, Wall Street Zen upgraded Intuitive Machines from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Intuitive Machines has a consensus rating of “Hold” and a consensus price target of $31.50.

Intuitive Machines Stock Down 2.7%

The business has a 50 day simple moving average of $29.91 and a 200 day simple moving average of $21.54. The company has a market capitalization of $4.93 billion, a PE ratio of -25.82 and a beta of 1.68.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The business had revenue of $186.73 million during the quarter, compared to the consensus estimate of $202.95 million. Equities analysts expect that Intuitive Machines, Inc. will post -0.35 EPS for the current fiscal year.

Insider Transactions at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 13,751 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total value of $324,661.11. Following the completion of the transaction, the chief executive officer directly owned 1,162,495 shares in the company, valued at $27,446,506.95. This trade represents a 1.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kamal Seyed Ghaffarian sold 283,818 shares of the firm’s stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $18.78, for a total value of $5,330,102.04. Following the completion of the transaction, the director owned 3,494,768 shares of the company’s stock, valued at approximately $65,631,743.04. The trade was a 7.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,208,436 shares of company stock valued at $30,867,376. 54.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Citigroup Inc. raised its stake in shares of Intuitive Machines by 627.6% in the third quarter. Citigroup Inc. now owns 1,048,106 shares of the company’s stock worth $11,026,000 after purchasing an additional 904,065 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Intuitive Machines by 13.3% in the third quarter. Vanguard Group Inc. now owns 6,090,059 shares of the company’s stock worth $64,067,000 after purchasing an additional 717,256 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in Intuitive Machines during the fourth quarter worth about $717,000. ARK Investment Management LLC grew its holdings in Intuitive Machines by 78.9% during the third quarter. ARK Investment Management LLC now owns 2,073,233 shares of the company’s stock worth $21,810,000 after acquiring an additional 914,458 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Intuitive Machines during the third quarter worth about $4,696,000. 72.21% of the stock is currently owned by hedge funds and other 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.