Intuitive Machines (NASDAQ:LUNR) Shares Down 6.8% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR) shares traded down 6.8% during mid-day trading on Monday . The company traded as low as $7.01 and last traded at $6.94. 693,845 shares changed hands during mid-day trading, a decline of 94% from the average session volume of 12,017,262 shares. The stock had previously closed at $7.45.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LUNR. Roth Capital set a $20.00 target price on shares of Intuitive Machines in a research note on Friday, March 7th. Bank of America assumed coverage on Intuitive Machines in a research note on Wednesday, February 5th. They set an “underperform” rating and a $16.00 target price for the company. B. Riley reaffirmed a “buy” rating on shares of Intuitive Machines in a research note on Tuesday, March 25th. Cantor Fitzgerald decreased their target price on shares of Intuitive Machines from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intuitive Machines in a research note on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Intuitive Machines Price Performance

The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -2.34 and a beta of 1.33. The business’s 50 day moving average is $10.76 and its 200 day moving average is $13.00.

Intuitive Machines (NASDAQ:LUNR) last posted its earnings results on Tuesday, March 25th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.12. The business had revenue of $54.66 million for the quarter, compared to analysts’ expectations of $72.58 million. As a group, analysts forecast that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Steven Vontur sold 4,528 shares of Intuitive Machines stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total transaction of $88,748.80. Following the completion of the transaction, the insider now owns 104,272 shares of the company’s stock, valued at $2,043,731.20. The trade was a 4.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Peter Mcgrath sold 37,906 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $7.71, for a total transaction of $292,255.26. Following the transaction, the chief financial officer now owns 438,992 shares of the company’s stock, valued at $3,384,628.32. This trade represents a 7.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,700 shares of company stock worth $589,489 in the last ninety days. 73.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LUNR. Stifel Financial Corp acquired a new position in shares of Intuitive Machines in the third quarter worth $525,000. State Street Corp boosted its stake in shares of Intuitive Machines by 1.3% during the 3rd quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after purchasing an additional 7,538 shares during the last quarter. Barclays PLC grew its holdings in shares of Intuitive Machines by 275.2% during the third quarter. Barclays PLC now owns 37,323 shares of the company’s stock worth $300,000 after buying an additional 27,376 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Intuitive Machines by 31.2% during the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after buying an additional 222,136 shares during the period. Finally, Harbour Capital Advisors LLC acquired a new stake in Intuitive Machines during the fourth quarter worth approximately $904,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

Intuitive Machines Company Profile

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.