Intuitive Machines (NASDAQ:LUNR) Trading Down 3.5% – Time to Sell?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) fell 3.5% during mid-day trading on Monday . The stock traded as low as $18.59 and last traded at $18.89. Approximately 11,321,100 shares changed hands during trading, a decline of 17% from the average daily volume of 13,572,944 shares. The stock had previously closed at $19.58.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Roth Capital increased their target price on Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Stifel Nicolaus set a $32.00 price objective on Intuitive Machines in a research report on Friday, May 15th. Wall Street Zen upgraded Intuitive Machines from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. Canaccord Genuity Group boosted their target price on shares of Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $31.50.

Intuitive Machines Price Performance

The company’s fifty day moving average price is $28.46 and its 200-day moving average price is $22.57. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -19.34 and a beta of 1.78.

Intuitive Machines (NASDAQ:LUNR) last released its earnings results 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 business had revenue of $186.73 million for the quarter, compared to the consensus estimate of $202.95 million. On average, sell-side analysts forecast that Intuitive Machines, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $20.43, for a total transaction of $2,899,200.87. Following the completion of the sale, the director owned 3,494,768 shares of the company’s stock, valued at approximately $71,398,110.24. The trade was a 3.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 shares were sold at an average price of $29.87, for a total value of $547,248.27. Following the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,066,527 shares of company stock worth $29,503,106 over the last 90 days. Insiders own 54.10% of the company’s stock.

Institutional Trading of Intuitive Machines

Several institutional investors and hedge funds have recently bought and sold shares of LUNR. Invesco Ltd. increased its stake in shares of Intuitive Machines by 19.7% in the first quarter. Invesco Ltd. now owns 16,092 shares of the company’s stock worth $120,000 after acquiring an additional 2,643 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Intuitive Machines by 43.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,715 shares of the company’s stock valued at $184,000 after purchasing an additional 7,528 shares during the last quarter. Caxton Associates LLP purchased a new stake in Intuitive Machines in the first quarter valued at $139,000. Creative Planning grew its position in Intuitive Machines by 29.3% during the 2nd quarter. Creative Planning now owns 30,407 shares of the company’s stock worth $331,000 after purchasing an additional 6,886 shares during the period. Finally, Cetera Investment Advisers grew its position in Intuitive Machines by 15.3% during the 2nd quarter. Cetera Investment Advisers now owns 18,835 shares of the company’s stock worth $205,000 after purchasing an additional 2,506 shares during the period. 72.21% of the stock is currently 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.