Intuitive Machines (NASDAQ:LUNR) Trading Down 4.2% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price fell 4.2% on Monday . The stock traded as low as $22.93 and last traded at $22.9710. 7,693,680 shares were traded during trading, a decline of 37% from the average session volume of 12,121,031 shares. The stock had previously closed at $23.99.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LUNR. Roth Mkm restated a “buy” rating on shares of Intuitive Machines in a research note on Wednesday, February 25th. KeyCorp raised their target price on Intuitive Machines from $20.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Deutsche Bank Aktiengesellschaft raised their target price on Intuitive Machines from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Canaccord Genuity Group raised their target price on Intuitive Machines from $22.50 to $24.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Finally, Stifel Nicolaus raised their target price on Intuitive Machines from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, March 23rd. Eight equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $19.94.

Intuitive Machines Price Performance

The firm’s 50-day moving average price is $18.50 and its 200 day moving average price is $15.00. The firm has a market cap of $5.14 billion, a P/E ratio of -32.07 and a beta of 1.31.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Thursday, March 19th. The company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. The company had revenue of $44.79 million for the quarter, compared to the consensus estimate of $53.37 million. Analysts forecast that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.

Insider Activity at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 283,818 shares of the stock in a transaction dated Tuesday, March 24th. The shares were sold at an average price of $18.78, for a total transaction of $5,330,102.04. Following the transaction, the director owned 3,494,768 shares of the company’s stock, valued at approximately $65,631,743.04. This trade represents a 7.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Stephen J. Altemus sold 428,503 shares of the stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $20.06, for a total transaction of $8,595,770.18. Following the transaction, the chief executive officer directly owned 1,026,402 shares in the company, valued at $20,589,624.12. The trade was a 29.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 1,273,731 shares of company stock worth $24,317,209. 39.75% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

Several large investors have recently modified their holdings of LUNR. Trustees of the University of Pennsylvania bought a new position in shares of Intuitive Machines during the fourth quarter worth about $52,689,000. First Trust Advisors LP lifted its holdings in Intuitive Machines by 3,582.9% in the third quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock worth $25,809,000 after acquiring an additional 2,386,688 shares during the last quarter. Jump Financial LLC lifted its holdings in Intuitive Machines by 5,262.9% in the third quarter. Jump Financial LLC now owns 1,339,872 shares of the company’s stock worth $14,095,000 after acquiring an additional 1,314,888 shares during the last quarter. Marshall Wace LLP lifted its holdings in Intuitive Machines by 523.7% in the fourth quarter. Marshall Wace LLP now owns 1,260,459 shares of the company’s stock worth $20,457,000 after acquiring an additional 1,058,376 shares during the last quarter. Finally, Voya Investment Management LLC lifted its holdings in Intuitive Machines by 56.1% in the third quarter. Voya Investment Management LLC now owns 2,656,684 shares of the company’s stock worth $27,948,000 after acquiring an additional 954,778 shares during the last quarter. Institutional investors own 72.21% of the company’s stock.

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.