Intuitive Machines (NASDAQ:LUNR) Stock Price Down 3.4% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price was down 3.4% during trading on Wednesday . The stock traded as low as $26.07 and last traded at $26.54. Approximately 8,373,552 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 13,482,915 shares. The stock had previously closed at $27.47.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LUNR shares. Wall Street Zen raised Intuitive Machines from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Canaccord Genuity Group increased their price target on Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a report on Friday, May 15th. Cantor Fitzgerald increased their price objective on Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $34.00 price objective on shares of Intuitive Machines in a research report on Wednesday, May 20th. Finally, B. Riley Financial increased their price objective on Intuitive Machines to $45.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $31.50.

Intuitive Machines Stock Down 13.1%

The company has a market capitalization of $5.78 billion, a PE ratio of -30.25 and a beta of 1.68. The firm has a 50-day moving average of $29.76 and a two-hundred day moving average of $21.20.

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

Insider Buying and Selling at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 283,818 shares of the firm’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $18.78, for a total transaction of $5,330,102.04. Following the completion of the transaction, the director directly owned 3,494,768 shares in the company, valued at $65,631,743.04. This trade represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William John Liquori, Jr. sold 18,321 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $29.87, for a total value of $547,248.27. Following the transaction, the director owned 68,875 shares of the company’s stock, valued at approximately $2,057,296.25. This represents a 21.01% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,208,436 shares of company stock valued at $30,867,376. Corporate insiders own 54.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC purchased a new position in shares of Intuitive Machines during the fourth quarter worth $28,000. State of Wyoming purchased a new position in shares of Intuitive Machines during the first quarter worth $39,000. GAMMA Investing LLC boosted its position 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 during the period. Larson Financial Group LLC boosted its position in shares of Intuitive Machines by 63.2% during the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after buying an additional 1,016 shares during the period. Finally, CWM LLC raised its stake in shares of Intuitive Machines by 406.4% in the fourth quarter. CWM LLC now owns 2,912 shares of the company’s stock valued at $47,000 after acquiring an additional 2,337 shares in the last quarter. 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.