Intuitive Machines (NASDAQ:LUNR) Trading Down 4.2% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price fell 4.2% during trading on Monday . The company traded as low as $22.93 and last traded at $22.9710. 7,693,680 shares traded hands during trading, a decline of 37% from the average session volume of 12,121,031 shares. The stock had previously closed at $23.99.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LUNR shares. Cantor Fitzgerald increased their target price on Intuitive Machines from $16.00 to $26.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. Canaccord Genuity Group boosted their target price on Intuitive Machines from $22.50 to $24.00 and gave the stock a “buy” rating in a research report on Friday, March 20th. Roth Mkm reaffirmed a “buy” rating on shares of Intuitive Machines in a research note on Wednesday, February 25th. B. Riley Financial reiterated a “buy” rating on shares of Intuitive Machines in a research report on Tuesday, February 17th. Finally, Stifel Nicolaus lifted their price objective on shares of Intuitive Machines from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Monday, March 23rd. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $19.94.

Intuitive Machines Price Performance

The stock has a market capitalization of $4.94 billion, a price-to-earnings ratio of -30.83 and a beta of 1.31. The business has a 50 day simple moving average of $18.36 and a 200-day simple moving average of $14.82.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings results on Thursday, March 19th. The company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $44.79 million for the quarter, compared to analyst estimates of $53.37 million. As a group, equities analysts predict that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.

Insider Activity

In other news, SVP Timothy Price Crain II sold 150,000 shares of the stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $17.55, for a total transaction of $2,632,500.00. Following the completion of the sale, the senior vice president owned 359,726 shares of the company’s stock, valued at $6,313,191.30. This represents a 29.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven Vontur sold 4,343 shares of the business’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $17.44, for a total transaction of $75,741.92. Following the completion of the sale, the insider directly owned 117,047 shares in the company, valued at $2,041,299.68. This represents a 3.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 1,273,731 shares of company stock worth $24,317,209. Corporate insiders own 39.75% of the company’s stock.

Institutional Trading of Intuitive Machines

Several hedge funds and other institutional investors have recently modified their holdings of the company. Trustees of the University of Pennsylvania acquired a new position in shares of Intuitive Machines during the fourth quarter worth about $52,689,000. First Trust Advisors LP lifted its stake in Intuitive Machines by 3,582.9% in the 3rd quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock valued at $25,809,000 after acquiring an additional 2,386,688 shares in the last quarter. Jump Financial LLC lifted its stake in Intuitive Machines by 5,262.9% in the 3rd quarter. Jump Financial LLC now owns 1,339,872 shares of the company’s stock valued at $14,095,000 after acquiring an additional 1,314,888 shares in the last quarter. Marshall Wace LLP boosted its position in Intuitive Machines by 523.7% during the 4th quarter. Marshall Wace LLP now owns 1,260,459 shares of the company’s stock worth $20,457,000 after acquiring an additional 1,058,376 shares during the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of Intuitive Machines by 56.1% during the 3rd quarter. Voya Investment Management LLC now owns 2,656,684 shares of the company’s stock worth $27,948,000 after acquiring an additional 954,778 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

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.