Intuitive Machines (NASDAQ:LUNR) Stock Price Down 9.3% – What’s Next?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) traded down 9.3% on Tuesday . The stock traded as low as $23.05 and last traded at $23.36. 15,769,321 shares traded hands during trading, an increase of 16% from the average session volume of 13,639,877 shares. The stock had previously closed at $25.76.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LUNR. Cantor Fitzgerald boosted their target price on shares of Intuitive Machines from $26.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. KeyCorp lifted their price objective on shares of Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $34.00 price objective on shares of Intuitive Machines in a report on Wednesday, May 20th. Roth Mkm increased their target price on shares of Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Finally, B. Riley Financial raised their target price on shares of Intuitive Machines to $45.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Eight equities 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. According to MarketBeat.com, Intuitive Machines currently has a consensus rating of “Hold” and an average target price of $31.50.

Intuitive Machines Stock Up 0.6%

The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of -25.97 and a beta of 1.68. The business’s 50 day simple moving average is $29.90 and its 200-day simple moving average is $21.64.

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

Insider Activity

In other Intuitive Machines 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 value of $5,330,102.04. Following the sale, the director owned 3,494,768 shares of the company’s stock, valued at approximately $65,631,743.04. This trade represents a 7.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Stephen J. Altemus sold 13,751 shares of Intuitive Machines stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total value of $324,661.11. Following the completion of the transaction, the chief executive officer owned 1,162,495 shares in the company, valued at approximately $27,446,506.95. The trade was a 1.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 1,200,345 shares of company stock valued at $31,945,796 in the last three months. Company insiders own 54.10% of the company’s stock.

Institutional Trading of Intuitive Machines

Institutional investors and hedge funds have recently modified their holdings of the business. Citigroup Inc. raised its stake in Intuitive Machines by 627.6% during the third quarter. Citigroup Inc. now owns 1,048,106 shares of the company’s stock worth $11,026,000 after acquiring an additional 904,065 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 purchasing an additional 717,256 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Intuitive Machines during the 4th quarter valued at approximately $717,000. ARK Investment Management LLC increased 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 worth $21,810,000 after purchasing an additional 914,458 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Intuitive Machines during the 3rd quarter worth approximately $4,696,000. 72.21% of the stock is currently owned by 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.