Intuitive Machines (NASDAQ:LUNR) Trading Down 3.5% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price traded down 3.5% during trading on Monday . The company traded as low as $18.59 and last traded at $18.89. 11,321,100 shares changed hands during mid-day trading, a decline of 17% from the average daily volume of 13,572,944 shares. The stock had previously closed at $19.58.

Analysts Set New Price Targets

LUNR has been the subject of a number of research reports. Wall Street Zen raised Intuitive Machines from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. B. Riley Financial reissued a “buy” rating on shares of Intuitive Machines in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $34.00 price target on shares of Intuitive Machines in a research note on Wednesday, May 20th. Zacks Research lowered shares of Intuitive Machines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Finally, Cantor Fitzgerald upped their target price on shares of Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Eight equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Intuitive Machines currently has an average rating of “Hold” and an average target price of $31.50.

Intuitive Machines Stock Performance

The company’s 50 day simple moving average is $28.79 and its 200 day simple moving average is $22.46. The stock has a market cap of $4.10 billion, a PE ratio of -21.47 and a beta of 1.78.

Intuitive Machines (NASDAQ:LUNR) last released its earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The firm had revenue of $186.73 million during the quarter, compared to the consensus estimate of $202.95 million. Equities research analysts expect that Intuitive Machines, Inc. will post -0.36 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Kamal Seyed Ghaffarian sold 141,909 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $20.43, for a total value of $2,899,200.87. Following the transaction, the director directly owned 3,494,768 shares of the company’s stock, valued at approximately $71,398,110.24. The trade was a 3.90% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy Price Crain II sold 150,000 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $21.87, for a total transaction of $3,280,500.00. Following the sale, the senior vice president owned 351,279 shares of the company’s stock, valued at $7,682,471.73. This trade represents a 29.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,066,527 shares of company stock valued at $29,503,106. 54.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors have recently bought and sold shares of LUNR. PNC Financial Services Group Inc. lifted its position in shares of Intuitive Machines by 34.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock valued at $52,000 after buying an additional 712 shares during the last quarter. GAMMA Investing LLC increased its holdings in Intuitive Machines by 41.5% in the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after acquiring an additional 781 shares during the last quarter. Sigma Planning Corp raised its stake in Intuitive Machines by 8.8% in the 4th quarter. Sigma Planning Corp now owns 10,947 shares of the company’s stock valued at $178,000 after acquiring an additional 886 shares during the period. Nations Financial Group Inc. IA ADV raised its stake in Intuitive Machines by 9.9% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 11,080 shares of the company’s stock valued at $206,000 after acquiring an additional 1,000 shares during the period. Finally, Larson Financial Group LLC boosted its position in Intuitive Machines by 63.2% during the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after purchasing an additional 1,016 shares during the period. Hedge funds and other 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.