Intuitive Machines, Inc. (NASDAQ:LUNR – Get Free Report)’s stock price traded down 13.1% during trading on Friday . The company traded as low as $25.45 and last traded at $26.62. 22,099,652 shares traded hands during mid-day trading, an increase of 62% from the average session volume of 13,639,818 shares. The stock had previously closed at $30.64.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. Wall Street Zen upgraded Intuitive Machines from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. Roth Mkm raised their price objective on shares of Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, April 17th. B. Riley Financial boosted their price objective on shares of Intuitive Machines to $45.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $34.00 target price on shares of Intuitive Machines in a research report on Wednesday, May 20th. Eight equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $31.50.
Read Our Latest Analysis on Intuitive Machines
Intuitive Machines Stock Down 13.1%
Intuitive Machines (NASDAQ:LUNR – Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The business had revenue of $186.73 million for the quarter, compared to the consensus estimate of $202.95 million. On average, research analysts predict that Intuitive Machines, Inc. will post -0.35 EPS for the current year.
Insider Activity at Intuitive Machines
In other news, SVP Timothy Price Crain II sold 150,000 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $17.55, for a total value of $2,632,500.00. Following the completion of the transaction, the senior vice president directly owned 359,726 shares of the company’s stock, valued at $6,313,191.30. The trade was a 29.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Peter Mcgrath sold 24,554 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total value of $579,719.94. Following the completion of the sale, the chief financial officer owned 401,246 shares in the company, valued at $9,473,418.06. This represents a 5.77% decrease in their ownership of the stock. 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 1,208,436 shares of company stock valued at $30,867,376 in the last ninety days. 54.10% of the stock is owned by insiders.
Institutional Trading of Intuitive Machines
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE raised its holdings in Intuitive Machines by 188.9% in the 1st quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock valued at $34,948,000 after acquiring an additional 1,231,188 shares during the last quarter. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Intuitive Machines during the first quarter worth $59,000. Janus Henderson Group PLC grew its position in shares of Intuitive Machines by 38.9% in the first quarter. Janus Henderson Group PLC now owns 51,100 shares of the company’s stock valued at $947,000 after purchasing an additional 14,300 shares during the period. California State Teachers Retirement System grew its position in shares of Intuitive Machines by 28.2% in the first quarter. California State Teachers Retirement System now owns 126,442 shares of the company’s stock valued at $2,347,000 after purchasing an additional 27,793 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in Intuitive Machines by 2.4% in the first quarter. The Manufacturers Life Insurance Company now owns 53,679 shares of the company’s stock valued at $996,000 after purchasing an additional 1,235 shares during the last quarter. 72.21% of the stock is owned by hedge funds and other 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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