Intuitive Machines (NASDAQ:LUNR) Shares Down 5.9%

Intuitive Machines, Inc. (NASDAQ:LUNR) fell 5.9% during trading on Wednesday . The company traded as low as $5.42 and last traded at $5.47. 2,509,305 shares were traded during mid-day trading, a decline of 62% from the average session volume of 6,602,812 shares. The stock had previously closed at $5.81.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. B. Riley assumed coverage on shares of Intuitive Machines in a research note on Friday, June 28th. They issued a “buy” rating and a $8.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $10.00 target price on shares of Intuitive Machines in a research report on Monday. Roth Mkm boosted their price target on Intuitive Machines from $7.00 to $10.00 and gave the company a “buy” rating in a report on Friday, August 30th. Benchmark restated a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, August 14th. Finally, Canaccord Genuity Group decreased their target price on Intuitive Machines from $14.00 to $11.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $9.80.

Intuitive Machines Stock Down 1.5 %

The business’s 50 day moving average is $4.33 and its 200 day moving average is $4.87. The company has a market cap of $712.90 million, a P/E ratio of 13.34 and a beta of 0.25.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates 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. As a group, equities research analysts forecast that Intuitive Machines, Inc. will post 0.47 EPS for the current year.

Insider Transactions at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 203,018 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $4.53, for a total transaction of $919,671.54. Following the transaction, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at $4,126,463.07. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Timothy Price Crain II sold 143,989 shares of Intuitive Machines stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $4.04, for a total value of $581,715.56. Following the completion of the sale, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $1,465,752.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Stephen J. Altemus sold 203,018 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $4.53, for a total transaction of $919,671.54. Following the sale, the chief executive officer now directly owns 910,919 shares in the company, valued at approximately $4,126,463.07. The disclosure for this sale can be found here. Insiders have sold a total of 608,250 shares of company stock valued at $2,516,117 in the last 90 days. Insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Inscription Capital LLC acquired a new position in shares of Intuitive Machines in the 1st quarter valued at $304,000. Tealwood Asset Management Inc. purchased a new stake in Intuitive Machines in the first quarter valued at approximately $131,000. Sanders Morris Harris LLC acquired a new position in Intuitive Machines in the 1st quarter worth approximately $119,000. Deuterium Capital Management LLC purchased a new position in Intuitive Machines during the 1st quarter worth approximately $125,000. Finally, Baltimore Washington Financial Advisors Inc. purchased a new stake in shares of Intuitive Machines in the 1st quarter valued at $67,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

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.