Intuitive Machines (NASDAQ:LUNR) Shares Down 3.6%

Intuitive Machines, Inc. (NASDAQ:LUNR) shares traded down 3.6% during trading on Thursday . The company traded as low as $5.03 and last traded at $5.09. 1,889,209 shares were traded during trading, a decline of 71% from the average session volume of 6,559,485 shares. The stock had previously closed at $5.28.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on LUNR shares. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 price target on shares of Intuitive Machines in a research report on Tuesday. Roth Mkm increased their target price on Intuitive Machines from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday, August 30th. Benchmark reissued a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, August 14th. Canaccord Genuity Group decreased their price target on shares of Intuitive Machines from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Finally, B. Riley started coverage on shares of Intuitive Machines in a research report on Friday, June 28th. They issued a “buy” rating and a $8.00 price objective for the company. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $9.80.

Intuitive Machines Price Performance

The stock has a market capitalization of $628.15 million, a PE ratio of 12.29 and a beta of 0.26. The company has a 50-day moving average of $4.25 and a two-hundred day moving average of $4.99.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. The company had revenue of $41.41 million for the quarter, compared to analysts’ expectations of $43.00 million. On average, research analysts forecast that Intuitive Machines, Inc. will post 0.47 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 50,000 shares of the firm’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $3.36, for a total value of $168,000.00. Following the transaction, the senior vice president now owns 362,810 shares of the company’s stock, valued at approximately $1,219,041.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Intuitive Machines news, SVP Timothy Price Crain II sold 50,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $3.36, for a total transaction of $168,000.00. Following the transaction, the senior vice president now owns 362,810 shares in the company, valued at $1,219,041.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Stephen J. Altemus sold 203,018 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $4.53, for a total value of $919,671.54. Following the completion of the sale, the chief executive officer now owns 910,919 shares of the company’s stock, valued at approximately $4,126,463.07. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 608,250 shares of company stock valued at $2,516,117. Company insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Intuitive Machines by 250.0% in the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after buying an additional 429,531 shares in the last quarter. Squarepoint Ops LLC acquired a new position in shares of Intuitive Machines in the second quarter worth about $536,000. Bank of New York Mellon Corp purchased a new position in Intuitive Machines in the second quarter valued at about $272,000. Sanders Morris Harris LLC grew its stake in Intuitive Machines by 264.9% during the 2nd quarter. Sanders Morris Harris LLC now owns 69,700 shares of the company’s stock valued at $230,000 after purchasing an additional 50,600 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in Intuitive Machines during the 2nd quarter worth approximately $164,000. 72.21% of the stock is owned by institutional investors and hedge funds.

About Intuitive Machines

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.