Intuitive Machines (NASDAQ:LUNR) Shares Down 12.7% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR) dropped 12.7% on Friday . The stock traded as low as $28.57 and last traded at $29.36. Approximately 13,810,911 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 13,572,326 shares. The stock had previously closed at $33.63.

Analyst Ratings Changes

LUNR has been the topic of several analyst reports. Cantor Fitzgerald increased their target price on Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. KeyCorp increased their target price on Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Wall Street Zen raised Intuitive Machines from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday, April 21st. Finally, Stifel Nicolaus set a $32.00 price target on Intuitive Machines in a report on Friday, May 15th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $31.50.

Intuitive Machines Price Performance

The company has a market capitalization of $6.37 billion, a price-to-earnings ratio of -33.36 and a beta of 1.68. The business has a fifty day moving average price of $28.73 and a 200 day moving average price of $20.50.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates 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. Research analysts anticipate that Intuitive Machines, Inc. will post -0.35 earnings per share for the current year.

Insider Transactions at Intuitive Machines

In related news, CFO Peter Mcgrath sold 24,554 shares of Intuitive Machines stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total transaction of $579,719.94. Following the transaction, the chief financial officer directly owned 401,246 shares of the company’s stock, valued at $9,473,418.06. The trade was a 5.77% decrease in their ownership of the stock. 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, Director Kamal Seyed Ghaffarian sold 283,818 shares of Intuitive Machines stock in a transaction dated Tuesday, March 24th. The stock was sold at an average price of $18.78, for a total value of $5,330,102.04. Following the transaction, the director directly owned 3,494,768 shares in the company, valued at approximately $65,631,743.04. The trade was a 7.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,190,115 shares of company stock valued at $30,320,128 in the last three months. 54.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE grew its holdings in Intuitive Machines by 188.9% during the first quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock worth $34,948,000 after acquiring an additional 1,231,188 shares during the period. JTC Employer Solutions Trustee Ltd acquired a new position in shares of Intuitive Machines in the 1st quarter valued at $59,000. Janus Henderson Group PLC boosted its position in shares of Intuitive Machines by 38.9% in the 1st quarter. Janus Henderson Group PLC now owns 51,100 shares of the company’s stock valued at $947,000 after purchasing an additional 14,300 shares during the period. California State Teachers Retirement System boosted its position in shares of Intuitive Machines by 28.2% in the 1st quarter. California State Teachers Retirement System now owns 126,442 shares of the company’s stock valued at $2,347,000 after purchasing an additional 27,793 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Intuitive Machines by 2.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 53,679 shares of the company’s stock valued at $996,000 after purchasing an additional 1,235 shares during the period. 72.21% of the stock is owned by institutional investors and hedge funds.

About Intuitive Machines

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.