Intuitive Machines (NASDAQ:LUNR) Stock Price Up 1.3% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR) shares rose 1.3% during trading on Monday . The company traded as high as $30.80 and last traded at $29.74. Approximately 9,026,661 shares were traded during trading, a decline of 33% from the average daily volume of 13,532,191 shares. The stock had previously closed at $29.36.

Analyst Ratings Changes

LUNR has been the topic of a number of analyst reports. Canaccord Genuity Group upped their target price on Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Wall Street Zen raised Intuitive Machines from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. Zacks Research cut Intuitive Machines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. B. Riley Financial upped their target price on Intuitive Machines to $45.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $31.50.

Intuitive Machines Stock Performance

The firm has a fifty day simple moving average of $28.90 and a 200 day simple moving average of $20.64. The company has a market capitalization of $6.45 billion, a PE ratio of -33.80 and a beta of 1.68.

Intuitive Machines (NASDAQ:LUNR) last released 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 analysts’ expectations of $202.95 million. Research analysts expect that Intuitive Machines, Inc. will post -0.35 EPS for the current fiscal year.

Insider Transactions at Intuitive Machines

In related news, CEO Stephen J. Altemus sold 13,751 shares of Intuitive Machines stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total value of $324,661.11. Following the completion of the sale, the chief executive officer directly owned 1,162,495 shares in the company, valued at $27,446,506.95. The trade was a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Timothy Price Crain II sold 8,447 shares of the stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total value of $199,433.67. Following the sale, the senior vice president directly owned 351,279 shares in the company, valued at $8,293,697.19. This trade represents a 2.35% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 1,190,115 shares of company stock valued at $30,320,128. Insiders own 54.10% of the company’s stock.

Institutional Trading of Intuitive Machines

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Citigroup Inc. boosted its position in Intuitive Machines by 627.6% during the 3rd quarter. Citigroup Inc. now owns 1,048,106 shares of the company’s stock valued at $11,026,000 after acquiring an additional 904,065 shares in the last quarter. Vanguard Group Inc. boosted its position in Intuitive Machines by 13.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,090,059 shares of the company’s stock valued at $64,067,000 after acquiring an additional 717,256 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in Intuitive Machines during the 4th quarter valued at $717,000. ARK Investment Management LLC boosted its position in Intuitive Machines by 78.9% during the 3rd quarter. ARK Investment Management LLC now owns 2,073,233 shares of the company’s stock valued at $21,810,000 after acquiring an additional 914,458 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in Intuitive Machines during the 3rd quarter valued at $4,696,000. Institutional investors 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.