Intuitive Machines (NASDAQ:LUNR) Stock Price Down 6.1% – Should You Sell?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNRGet Free Report) traded down 6.1% on Monday . The stock traded as low as $15.02 and last traded at $15.15. Approximately 10,223,634 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 13,383,131 shares. The stock had previously closed at $16.14.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on LUNR shares. Canaccord Genuity Group upped their target price on Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, May 15th. B. Riley Financial reissued a “buy” rating on shares of Intuitive Machines in a research note on Wednesday, June 24th. Wall Street Zen upgraded Intuitive Machines from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Stifel Nicolaus set a $32.00 price objective on shares of Intuitive Machines in a research report on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $34.00 price objective on shares of Intuitive Machines in a research note on Wednesday, May 20th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.50.

Read Our Latest Analysis on LUNR

Intuitive Machines Stock Performance

The company has a market capitalization of $3.29 billion, a price-to-earnings ratio of -17.22 and a beta of 1.78. The company has a 50 day moving average price of $27.95 and a 200 day moving average price of $22.62.

Intuitive Machines (NASDAQ:LUNRGet Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates 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. Research analysts forecast that Intuitive Machines, Inc. will post -0.36 EPS for the current year.

Insider Buying and Selling

In related news, SVP Timothy Price Crain II sold 150,000 shares of Intuitive Machines stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $21.87, for a total value of $3,280,500.00. Following the completion of the sale, the senior vice president owned 351,279 shares of the company’s stock, valued at approximately $7,682,471.73. This trade represents a 29.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Mcgrath sold 24,554 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total transaction of $579,719.94. Following the sale, the chief financial officer owned 401,246 shares of the company’s stock, valued at $9,473,418.06. This trade represents a 5.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,066,527 shares of company stock worth $29,503,106 over the last quarter. Corporate insiders own 54.10% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds have recently added to or reduced their stakes in the stock. Tema ETFs LLC raised its stake in shares of Intuitive Machines by 139,768.2% in the second quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock worth $66,418,000 after purchasing an additional 3,102,854 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of Intuitive Machines by 17.1% during the second quarter. Handelsbanken Fonder AB now owns 49,400 shares of the company’s stock valued at $1,057,000 after buying an additional 7,200 shares during the last quarter. Bank of America Corp DE grew its holdings in Intuitive Machines by 188.9% during the first quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock worth $34,948,000 after buying an additional 1,231,188 shares in the last quarter. JTC Employer Solutions Trustee Ltd bought a new stake in Intuitive Machines during the first quarter worth $59,000. Finally, Janus Henderson Group PLC raised its position in Intuitive Machines by 38.9% in the 1st quarter. Janus Henderson Group PLC now owns 51,100 shares of the company’s stock valued at $947,000 after buying an additional 14,300 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

Intuitive Machines Company Profile

(Get Free Report)

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.

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