Intuitive Machines (NASDAQ:LUNR) Shares Down 2.1% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price was down 2.1% on Wednesday. The stock traded as low as $14.22 and last traded at $14.24. 8,843,615 shares changed hands during trading, a decline of 26% from the average daily volume of 12,029,831 shares. The stock had previously closed at $14.55.

Analyst Ratings Changes

LUNR has been the subject of a number of research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Intuitive Machines in a research report on Monday, September 21st. Zacks Research upgraded Intuitive Machines from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Stifel Nicolaus raised Intuitive Machines from a “hold” rating to a “buy” rating and reduced their target price for the company from $32.00 to $26.00 in a report on Friday, August 14th. Roth Capital set a $30.00 target price on Intuitive Machines in a research report on Thursday, August 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a research note on Friday, July 17th. Seven analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Intuitive Machines Trading Down 1.3%

The stock has a market cap of $3.22 billion, a price-to-earnings ratio of -14.79 and a beta of 1.86. The stock’s 50 day moving average is $15.28 and its two-hundred day moving average is $21.37.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The business had revenue of $206.17 million for the quarter, compared to the consensus estimate of $212.32 million. On average, sell-side analysts predict that Intuitive Machines, Inc. will post -0.6 EPS for the current year.

Insider Buying and Selling

In other Intuitive Machines news, insider Steven Vontur sold 3,050 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $16.13, for a total transaction of $49,196.50. Following the completion of the sale, the insider directly owned 113,997 shares of the company’s stock, valued at $1,838,771.61. This represents a 2.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder International L.P. Advent sold 11,495,514 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $12.84, for a total value of $147,602,399.76. Following the sale, the insider directly owned 11,495,514 shares of the company’s stock, valued at $147,602,399.76. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 12,201,528 shares of company stock worth $158,629,235. Insiders own 54.10% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Several hedge funds have recently modified their holdings of LUNR. Tidal Investments LLC purchased a new position in Intuitive Machines during the 2nd quarter worth $64,452,000. WINTON GROUP Ltd boosted its holdings in shares of Intuitive Machines by 538.9% in the second quarter. WINTON GROUP Ltd now owns 171,857 shares of the company’s stock valued at $3,676,000 after acquiring an additional 144,957 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Intuitive Machines during the second quarter worth about $1,732,000. Integrated Wealth Concepts LLC acquired a new position in shares of Intuitive Machines during the second quarter worth about $88,000. Finally, Connective Capital Management LLC acquired a new position in shares of Intuitive Machines during the second quarter worth about $393,000. 72.21% of the stock is owned by institutional investors and hedge funds.

Intuitive Machines Company Profile

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and operates lunar landers, spacecraft, and related systems designed to deliver payloads to the Moon and support communications, navigation, and other lunar operations.

Its primary product platform is the Nova-C lunar lander, which is designed to transport scientific instruments, technology demonstrations, and commercial payloads to the lunar surface. Intuitive Machines also provides lunar data transmission and satellite communications services, autonomous navigation systems, precision landing technologies, and other products intended to support a broader lunar economy.

Founded in 2013 by Steve Altemus, who serves as president and chief executive officer, Intuitive Machines became a publicly traded company in 2024.