Intuitive Machines (NASDAQ:LUNR) Stock Price Down 8.8% – Time to Sell?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) traded down 8.8% during mid-day trading on Wednesday . The stock traded as low as $18.92 and last traded at $19.1050. 11,308,867 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 13,634,610 shares. The stock had previously closed at $20.95.

Analysts Set New Price Targets

LUNR has been the topic of several recent research reports. Stifel Nicolaus set a $32.00 target price on Intuitive Machines in a report on Friday, May 15th. B. Riley Financial reiterated a “buy” rating on shares of Intuitive Machines in a research note on Wednesday. Wall Street Zen raised Intuitive Machines from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Canaccord Genuity Group raised their price objective on Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, KeyCorp boosted their target price on Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. 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 company. According to data from MarketBeat.com, Intuitive Machines currently has a consensus rating of “Hold” and a consensus price target of $31.50.

Intuitive Machines Price Performance

The company has a market capitalization of $4.15 billion, a P/E ratio of -21.71 and a beta of 1.68. The stock’s fifty day simple moving average is $29.84 and its 200-day simple moving average is $21.99.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The company had revenue of $186.73 million during the quarter, compared to analyst estimates of $202.95 million. On average, research analysts predict that Intuitive Machines, Inc. will post -0.35 earnings per share for the current year.

Insiders Place Their Bets

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 141,909 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $26.15, for a total value of $3,710,920.35. Following the sale, the director directly owned 3,494,768 shares in the company, valued at $91,388,183.20. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William John Liquori, Jr. sold 18,321 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $29.87, for a total transaction of $547,248.27. Following the transaction, the director owned 68,875 shares in the company, valued at approximately $2,057,296.25. The trade was a 21.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,066,527 shares of company stock valued at $29,896,194 in the last 90 days. 54.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Machines

Institutional investors have recently added to or reduced their stakes in the company. Citigroup Inc. increased its position in shares of Intuitive Machines by 627.6% during the third quarter. Citigroup Inc. now owns 1,048,106 shares of the company’s stock valued at $11,026,000 after purchasing an additional 904,065 shares during the period. Vanguard Group Inc. boosted its stake in Intuitive Machines by 13.3% during the third quarter. Vanguard Group Inc. now owns 6,090,059 shares of the company’s stock worth $64,067,000 after buying an additional 717,256 shares in the last quarter. Jefferies Financial Group Inc. bought a new stake in Intuitive Machines in the 4th quarter valued at $717,000. ARK Investment Management LLC raised its stake in shares of Intuitive Machines by 78.9% in the 3rd quarter. ARK Investment Management LLC now owns 2,073,233 shares of the company’s stock valued at $21,810,000 after buying an additional 914,458 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Intuitive Machines in the 3rd quarter valued at $4,696,000. 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.