Intuitive Machines (NASDAQ:LUNR) Shares Down 1.6% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price traded down 1.6% during mid-day trading on Tuesday . The stock traded as low as $14.76 and last traded at $14.91. 10,368,845 shares traded hands during mid-day trading, a decline of 22% from the average session volume of 13,353,084 shares. The stock had previously closed at $15.15.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday, April 21st. Zacks Research raised shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Stifel Nicolaus set a $32.00 price objective on shares of Intuitive Machines in a research note on Friday, May 15th. Wall Street Zen raised shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Finally, Canaccord Genuity Group increased their price objective on shares of Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $31.50.

Intuitive Machines Price Performance

The stock has a fifty day simple moving average of $27.32 and a 200-day simple moving average of $22.59. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of -15.63 and a beta of 1.78.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) 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 analyst estimates of $202.95 million. As a group, equities analysts expect that Intuitive Machines, Inc. will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 141,909 shares of the firm’s stock in a transaction dated 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 directly owned 3,494,768 shares in the company, valued at $136,365,847.36. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy Price Crain II sold 150,000 shares of Intuitive Machines stock in a transaction dated 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 completion of the transaction, the senior vice president 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 1,019,775 shares of company stock valued at $28,399,292. Corporate insiders own 54.10% of the company’s stock.

Institutional Trading of Intuitive Machines

Several institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its position in shares of Intuitive Machines by 34.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock worth $52,000 after purchasing an additional 712 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Intuitive Machines by 41.5% during the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after buying an additional 781 shares in the last quarter. Sigma Planning Corp grew its holdings in shares of Intuitive Machines by 8.8% during the fourth quarter. Sigma Planning Corp now owns 10,947 shares of the company’s stock worth $178,000 after buying an additional 886 shares in the last quarter. Nations Financial Group Inc. IA ADV raised its position in shares of Intuitive Machines by 9.9% in the first quarter. Nations Financial Group Inc. IA ADV now owns 11,080 shares of the company’s stock valued at $206,000 after buying an additional 1,000 shares during the last quarter. Finally, Larson Financial Group LLC raised its position in shares of Intuitive Machines by 63.2% in the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock valued at $43,000 after buying an additional 1,016 shares during the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

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.