Intuitive Machines (NASDAQ:LUNR) Shares Down 2.1% – Should You Sell?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) were down 2.1% on Wednesday. The stock traded as low as $14.22 and last traded at $14.24. 8,843,615 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 12,029,831 shares. The stock had previously closed at $14.55.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LUNR shares. Canaccord Genuity Group dropped their price objective on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, August 18th. Bank of America boosted their target price on Intuitive Machines from $11.00 to $13.00 and gave the stock an “underperform” rating in a research report on Monday, August 31st. Stifel Nicolaus upgraded shares of Intuitive Machines from a “hold” rating to a “buy” rating and lowered their target price for the company from $32.00 to $26.00 in a research note on Friday, August 14th. B. Riley Financial reduced their price target on shares of Intuitive Machines from $45.00 to $43.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Finally, Roth Capital set a $30.00 price objective on shares of Intuitive Machines in a report on Thursday, August 13th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Intuitive Machines Stock Down 2.1%

The company has a market cap of $3.26 billion, a P/E ratio of -14.99 and a beta of 1.85. The business has a fifty day simple moving average of $15.27 and a two-hundred day simple moving average of $21.42.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The business had revenue of $206.17 million during the quarter, compared to analyst estimates of $212.32 million. On average, equities analysts predict that Intuitive Machines, Inc. will post -0.6 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other news, major shareholder International L.P. Advent sold 11,495,514 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $12.84, for a total transaction of $147,602,399.76. Following the completion of the sale, the insider owned 11,495,514 shares of the company’s stock, valued at $147,602,399.76. The trade was a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven Vontur sold 3,050 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $16.13, for a total value of $49,196.50. Following the completion of the sale, the insider owned 113,997 shares of the company’s stock, valued at $1,838,771.61. This trade represents a 2.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 12,201,528 shares of company stock valued at $158,629,235. 54.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently bought and sold shares of LUNR. Nykredit A S bought a new stake in Intuitive Machines during the second quarter valued at about $25,000. State of Wyoming bought a new position in shares of Intuitive Machines in the first quarter worth about $39,000. PNC Financial Services Group Inc. lifted its position in shares of 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 buying an additional 712 shares in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Intuitive Machines during the 1st quarter valued at about $59,000. Finally, KBC Group NV grew its stake in shares of Intuitive Machines by 76.4% during the 1st quarter. KBC Group NV now owns 4,247 shares of the company’s stock valued at $79,000 after acquiring an additional 1,840 shares during the period. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

About Intuitive Machines

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and delivers lunar missions, spacecraft, and related services for government and commercial customers, with a focus on supporting a sustainable presence on the Moon.

Its activities include lunar payload delivery, spacecraft and lander development, lunar communications and navigation services, and the collection and transmission of data from the lunar surface. Intuitive Machines’ Nova-C lunar lander is designed to transport scientific instruments, technology demonstrations, and other payloads to the Moon.

Founded in 2013 by Stephen Altemus, who serves as president and chief executive officer, Intuitive Machines has supported NASA’s Commercial Lunar Payload Services program.