Intuitive Machines (NASDAQ:LUNR) Stock Price Down 4.3% – Here’s Why

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) fell 4.3% during mid-day trading on Wednesday. The stock traded as low as $13.93 and last traded at $14.41. Approximately 9,914,995 shares changed hands during trading, a decline of 17% from the average session volume of 11,952,230 shares. The stock had previously closed at $15.06.

Analyst Ratings Changes

LUNR has been the subject of a number of research reports. Roth Capital set a $30.00 price objective on shares of Intuitive Machines in a report on Thursday, August 13th. Zacks Research raised shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Canaccord Genuity Group lowered their price objective on shares of Intuitive Machines from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Tuesday, August 18th. B. Riley Financial dropped their price objective on shares of Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Intuitive Machines in a report on Monday, September 21st. Seven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

Intuitive Machines Price Performance

The company has a 50-day simple moving average of $15.48 and a two-hundred day simple moving average of $21.24. The stock has a market capitalization of $3.03 billion, a price-to-earnings ratio of -13.96 and a beta of 1.86.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The firm had revenue of $206.17 million for the quarter, compared to the consensus estimate of $212.32 million. Research analysts anticipate that Intuitive Machines, Inc. will post -0.6 EPS for the current year.

Insider Activity

In other news, Director Kamal Ghaffarian sold 267,448 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.17, for a total transaction of $4,324,634.16. Following the completion of the transaction, the director directly owned 3,494,768 shares in the company, valued at approximately $56,510,398.56. The trade was a 7.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder International L.P. Advent sold 11,495,514 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $12.84, for a total value of $147,602,399.76. Following the completion of the transaction, the insider directly owned 11,495,514 shares of the company’s stock, valued at $147,602,399.76. This trade represents a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,201,528 shares of company stock worth $158,629,235 in the last quarter. Company insiders own 54.10% of the company’s stock.

Institutional Trading of Intuitive Machines

Several hedge funds have recently added to or reduced their stakes in the business. Tema ETFs LLC increased its holdings in shares of Intuitive Machines by 139,768.2% during the second quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock valued at $66,418,000 after purchasing an additional 3,102,854 shares during the period. Tidal Investments LLC bought a new position in Intuitive Machines in the 2nd quarter valued at about $64,452,000. Renaissance Technologies LLC bought a new position in Intuitive Machines in the 1st quarter valued at about $35,895,000. Bank of America Corp DE increased its stake in Intuitive Machines by 188.9% during the 1st quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock valued at $34,948,000 after buying an additional 1,231,188 shares during the period. Finally, First Trust Advisors LP increased its stake in Intuitive Machines by 28.8% during the 1st quarter. First Trust Advisors LP now owns 657,318 shares of the company’s stock valued at $12,200,000 after buying an additional 147,095 shares during the period. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and operates lunar landers, spacecraft, and related systems designed to deliver payloads to the Moon and support communications, navigation, and other lunar operations.

Its primary product platform is the Nova-C lunar lander, which is designed to transport scientific instruments, technology demonstrations, and commercial payloads to the lunar surface. Intuitive Machines also provides lunar data transmission and satellite communications services, autonomous navigation systems, precision landing technologies, and other products intended to support a broader lunar economy.

Founded in 2013 by Steve Altemus, who serves as president and chief executive officer, Intuitive Machines became a publicly traded company in 2024.