Intuitive Machines (NASDAQ:LUNR) Shares Down 0.8%

Intuitive Machines, Inc. (NASDAQ:LUNR) shares were down 0.8% during mid-day trading on Monday . The stock traded as low as $5.03 and last traded at $5.16. Approximately 581,995 shares were traded during trading, a decline of 93% from the average daily volume of 8,579,881 shares. The stock had previously closed at $5.20.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on LUNR shares. Cantor Fitzgerald reduced their price objective on shares of Intuitive Machines from $13.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. Benchmark reaffirmed a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a research note on Thursday, April 4th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $15.00 price target on shares of Intuitive Machines in a research note on Thursday, April 4th.

Intuitive Machines Trading Up 6.6 %

The stock’s 50 day moving average price is $6.05 and its 200 day moving average price is $4.09. The firm has a market cap of $670.95 million, a PE ratio of 2.23 and a beta of 0.23.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings results on Monday, March 25th. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.01. The business had revenue of $30.56 million during the quarter, compared to analyst estimates of $17.70 million. Intuitive Machines had a net margin of 78.98% and a negative return on equity of 2.04%. Analysts forecast that Intuitive Machines, Inc. will post -0.48 earnings per share for the current year.

Insider Activity at Intuitive Machines

In related news, major shareholder Guy Shanon sold 123,717 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $8.99, for a total transaction of $1,112,215.83. Following the completion of the sale, the insider now directly owns 1,302,673 shares of the company’s stock, valued at approximately $11,711,030.27. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 78.93% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC acquired a new position in Intuitive Machines during the 3rd quarter worth $365,000. Nomura Holdings Inc. acquired a new position in shares of Intuitive Machines in the 3rd quarter valued at about $1,369,000. Hemington Wealth Management acquired a new position in shares of Intuitive Machines in the 4th quarter valued at about $26,000. Sanders Morris Harris LLC acquired a new position in shares of Intuitive Machines in the 1st quarter valued at about $119,000. Finally, Inscription Capital LLC acquired a new position in shares of Intuitive Machines in the 1st quarter valued at about $304,000. 72.21% of the stock is owned by institutional investors and hedge funds.

About Intuitive Machines

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.