Shares of Intuitive Machines, Inc. (NASDAQ:LUNR – Get Free Report) traded down 1.6% during mid-day trading on Tuesday . The company traded as low as $14.76 and last traded at $14.91. 10,368,845 shares traded hands during trading, a decline of 22% from the average daily volume of 13,353,084 shares. The stock had previously closed at $15.15.
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the company. Roth Capital boosted 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. Canaccord Genuity Group boosted their price objective on shares of Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $34.00 target price on shares of Intuitive Machines in a research note on Wednesday, May 20th. Wall Street Zen raised shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Intuitive Machines in a research report 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.50.
Read Our Latest Research Report on Intuitive Machines
Intuitive Machines Stock Down 1.6%
Intuitive Machines (NASDAQ:LUNR – Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The firm had revenue of $186.73 million for the quarter, compared to analysts’ expectations of $202.95 million. Equities analysts forecast that Intuitive Machines, Inc. will post -0.36 earnings per share for the current year.
Insider Transactions at Intuitive Machines
In other Intuitive Machines news, SVP Timothy Price Crain II sold 150,000 shares of Intuitive Machines stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $21.87, for a total transaction of $3,280,500.00. Following the completion of the sale, the senior vice president directly owned 351,279 shares of the company’s stock, valued at $7,682,471.73. The trade was a 29.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $29.87, for a total value of $547,248.27. Following the completion of the sale, the director owned 68,875 shares of the company’s stock, valued at $2,057,296.25. This represents a 21.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 1,066,527 shares of company stock valued at $29,503,106. Company insiders own 54.10% of the company’s stock.
Hedge Funds Weigh In On Intuitive Machines
A number of hedge funds and other institutional investors have recently modified their holdings of LUNR. Trustees of the University of Pennsylvania purchased a new position in Intuitive Machines during the fourth quarter valued at approximately $52,689,000. Tema ETFs LLC increased its holdings in shares of Intuitive Machines by 139,768.2% in the 2nd quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock valued at $66,418,000 after acquiring an additional 3,102,854 shares during the period. UBS Group AG raised its position in shares of Intuitive Machines by 22.0% in the 4th quarter. UBS Group AG now owns 3,095,383 shares of the company’s stock worth $50,238,000 after acquiring an additional 557,517 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Intuitive Machines by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 2,735,161 shares of the company’s stock worth $44,399,000 after acquiring an additional 61,084 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in Intuitive Machines by 18.4% during the third quarter. Bank of America Corp DE now owns 2,677,305 shares of the company’s stock valued at $28,165,000 after purchasing an additional 415,359 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors.
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.
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