Intuitive Machines (NASDAQ:LUNR) Shares Down 3.4% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares dropped 3.4% on Wednesday . The company traded as low as $26.07 and last traded at $26.54. Approximately 8,373,552 shares changed hands during mid-day trading, a decline of 38% from the average daily volume of 13,482,915 shares. The stock had previously closed at $27.47.

Analyst Ratings Changes

LUNR has been the subject of a number of recent research reports. B. Riley Financial boosted their price objective on shares of Intuitive Machines to $45.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Stifel Nicolaus set a $32.00 target price on shares of Intuitive Machines in a research note on Friday, May 15th. KeyCorp lifted their target price on shares of Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Canaccord Genuity Group lifted their target price on shares of Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, Wall Street Zen raised shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Intuitive Machines presently has a consensus rating of “Hold” and an average target price of $31.50.

Intuitive Machines Price Performance

The firm’s 50 day moving average is $29.31 and its 200 day moving average is $20.92. The company has a market capitalization of $5.76 billion, a PE ratio of -30.15 and a beta of 1.68.

Intuitive Machines (NASDAQ:LUNR) last issued its earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The company had revenue of $186.73 million for the quarter, compared to the consensus estimate of $202.95 million. As a group, analysts predict that Intuitive Machines, Inc. will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Price Crain II sold 150,000 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $17.55, for a total transaction of $2,632,500.00. Following the transaction, the senior vice president directly owned 359,726 shares of the company’s stock, valued at approximately $6,313,191.30. The trade was a 29.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William John Liquori, Jr. sold 18,321 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $29.87, for a total transaction of $547,248.27. Following the transaction, the director directly owned 68,875 shares in the company, valued at approximately $2,057,296.25. The trade was a 21.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,208,436 shares of company stock worth $30,867,376. 54.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new position in Intuitive Machines during the 4th quarter valued at $28,000. State of Wyoming purchased a new position in Intuitive Machines during the 1st quarter valued at $39,000. Larson Financial Group LLC increased its position in Intuitive Machines by 63.2% during the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock valued at $43,000 after purchasing an additional 1,016 shares during the period. GAMMA Investing LLC increased its position in Intuitive Machines by 41.5% during the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after purchasing an additional 781 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in Intuitive Machines by 34.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock valued at $52,000 after purchasing an additional 712 shares during the period. 72.21% of the stock is owned by hedge funds and other institutional investors.

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.