Intuitive Machines, Inc. (NASDAQ:LUNR – Get Free Report)’s stock price dropped 2.9% on Monday. The company traded as low as $14.02 and last traded at $14.29. Approximately 7,515,268 shares were traded during trading, a decline of 37% from the average daily volume of 11,969,554 shares. The stock had previously closed at $14.71.
Analysts Set New Price Targets
Several research analysts have issued reports on LUNR shares. Roth Capital set a $30.00 price objective on shares of Intuitive Machines in a research report on Thursday, August 13th. Bank of America upped their target price on shares of Intuitive Machines from $11.00 to $13.00 and gave the company an “underperform” rating in a report on Monday, August 31st. Cantor Fitzgerald reissued an “overweight” rating on shares of Intuitive Machines in a report on Monday, September 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Intuitive Machines in a report on Friday, July 17th. Finally, Canaccord Genuity Group dropped their price target 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. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Intuitive Machines currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.
Check Out Our Latest Research Report on Intuitive Machines
Intuitive Machines Stock Up 5.4%
Intuitive Machines (NASDAQ:LUNR – Get Free Report) last announced its 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 for the quarter, compared to the consensus estimate of $212.32 million. As a group, research analysts forecast that Intuitive Machines, Inc. will post -0.6 EPS for the current fiscal year.
Insider Transactions at Intuitive Machines
In other news, major shareholder International L.P. Advent sold 11,495,514 shares of Intuitive Machines stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $12.84, for a total value of $147,602,399.76. Following the transaction, the insider directly 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Steven Vontur sold 3,050 shares of Intuitive Machines stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $16.13, for a total transaction of $49,196.50. Following the transaction, the insider owned 113,997 shares in the company, valued at $1,838,771.61. The trade was a 2.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 12,201,528 shares of company stock worth $158,629,235 over the last ninety days. 54.10% of the stock is owned by insiders.
Institutional Investors Weigh In On Intuitive Machines
A number of large investors have recently modified their holdings of LUNR. Tidal Investments LLC acquired a new stake in Intuitive Machines in the second quarter valued at approximately $64,452,000. WINTON GROUP Ltd raised its stake in shares of Intuitive Machines by 538.9% during the second quarter. WINTON GROUP Ltd now owns 171,857 shares of the company’s stock valued at $3,676,000 after purchasing an additional 144,957 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Intuitive Machines during the second quarter worth $1,732,000. Integrated Wealth Concepts LLC acquired a new position in shares of Intuitive Machines during the second quarter worth $88,000. Finally, Connective Capital Management LLC purchased a new position in shares of Intuitive Machines in the second quarter valued at $393,000. Institutional investors and hedge funds own 72.21% of the company’s stock.
About Intuitive Machines
Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and operates lunar landers, spacecraft, and related systems designed to deliver payloads to the Moon and support communications, navigation, and other lunar operations.
Its primary product platform is the Nova-C lunar lander, which is designed to transport scientific instruments, technology demonstrations, and commercial payloads to the lunar surface. Intuitive Machines also provides lunar data transmission and satellite communications services, autonomous navigation systems, precision landing technologies, and other products intended to support a broader lunar economy.
Founded in 2013 by Steve Altemus, who serves as president and chief executive officer, Intuitive Machines became a publicly traded company in 2024.
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