Intuitive Machines (NASDAQ:LUNR) Shares Down 8.1% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price fell 8.1% on Wednesday . The company traded as low as $17.58 and last traded at $17.7490. Approximately 2,481,539 shares were traded during trading, a decline of 81% from the average session volume of 12,890,815 shares. The stock had previously closed at $19.31.

Analyst Ratings Changes

Several equities analysts have issued reports on LUNR shares. Canaccord Genuity Group cut their target price on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday. Roth Capital set a $30.00 price target on Intuitive Machines in a report on Thursday, August 13th. Zacks Research upgraded Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Wall Street Zen upgraded shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Finally, B. Riley Financial decreased their price objective on shares of Intuitive Machines from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Intuitive Machines presently has an average rating of “Moderate Buy” and a consensus target price of $30.06.

Intuitive Machines Stock Performance

The stock has a 50 day moving average of $17.82 and a 200-day moving average of $21.90. The company has a market cap of $3.95 billion, a PE ratio of -19.21 and a beta of 1.83.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The business had revenue of $206.17 million during the quarter, compared to analyst estimates of $212.32 million. Equities research analysts forecast that Intuitive Machines, Inc. will post -0.5 EPS for the current year.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, Director William John Liquori, Jr. sold 18,321 shares of Intuitive Machines stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $29.87, for a total transaction of $547,248.27. Following the completion of the sale, the director directly owned 68,875 shares in the company, valued at approximately $2,057,296.25. The trade was a 21.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $3,280,500.00. Following the completion of the sale, the senior vice president directly owned 351,279 shares in the company, valued at $7,682,471.73. This trade represents a 29.92% 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. Insiders have sold 12,404,313 shares of company stock worth $168,526,592 in the last ninety days. Corporate insiders own 54.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Trustees of the University of Pennsylvania acquired a new stake in Intuitive Machines during the 4th quarter worth about $52,689,000. Tema ETFs LLC lifted its holdings in shares of Intuitive Machines by 139,768.2% in the 2nd quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock valued at $66,418,000 after buying an additional 3,102,854 shares during the period. UBS Group AG lifted its holdings in shares of Intuitive Machines by 22.0% in the 4th quarter. UBS Group AG now owns 3,095,383 shares of the company’s stock valued at $50,238,000 after buying an additional 557,517 shares during the period. Geode Capital Management LLC boosted its stake in shares of Intuitive Machines by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 2,735,161 shares of the company’s stock worth $44,399,000 after buying an additional 61,084 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in Intuitive Machines by 18.4% during the third quarter. Bank of America Corp DE now owns 2,677,305 shares of the company’s stock worth $28,165,000 after acquiring an additional 415,359 shares during the period. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.