Intuitive Machines, Inc. (NASDAQ:LUNR – Get Free Report)’s stock price traded down 2.2% on Thursday . The stock traded as low as $17.91 and last traded at $18.70. Approximately 10,394,102 shares were traded during mid-day trading, a decline of 24% from the average daily volume of 13,609,275 shares. The stock had previously closed at $19.13.
Wall Street Analyst Weigh In
Several equities research analysts have commented on LUNR shares. KeyCorp raised their price target on shares of Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Canaccord Genuity Group boosted their target price on Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Zacks Research downgraded shares of Intuitive Machines from a “hold” rating to a “strong sell” rating in a report on Tuesday, May 19th. Wall Street Zen raised Intuitive Machines from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Intuitive Machines in a research note on Wednesday. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Intuitive Machines presently has a consensus rating of “Hold” and an average price target of $31.50.
Read Our Latest Research Report on LUNR
Intuitive Machines Price Performance
Intuitive Machines (NASDAQ:LUNR – Get Free Report) last issued its 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 business had revenue of $186.73 million during the quarter, compared to analysts’ expectations of $202.95 million. Equities analysts anticipate that Intuitive Machines, Inc. will post -0.35 EPS for the current year.
Insiders Place Their Bets
In related news, CEO Stephen J. Altemus sold 13,751 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total value of $324,661.11. Following the transaction, the chief executive officer owned 1,162,495 shares in the company, valued at approximately $27,446,506.95. This represents a 1.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director William John Liquori, Jr. sold 18,321 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $29.87, for a total transaction of $547,248.27. Following the transaction, the director directly owned 68,875 shares in the company, valued at approximately $2,057,296.25. The trade was a 21.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,066,527 shares of company stock worth $29,896,194 in the last quarter. Corporate insiders own 54.10% of the company’s stock.
Institutional Investors Weigh In On Intuitive Machines
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new stake in shares of Intuitive Machines in the fourth quarter worth $28,000. State of Wyoming acquired a new stake in Intuitive Machines during the first quarter worth about $39,000. GAMMA Investing LLC grew its holdings in shares of Intuitive Machines by 41.5% during the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after purchasing an additional 781 shares in the last quarter. Larson Financial Group LLC increased its holdings in Intuitive Machines by 63.2% in the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock valued at $43,000 after buying an additional 1,016 shares during the period. Finally, CWM LLC increased its stake in Intuitive Machines by 406.4% in the fourth quarter. CWM LLC now owns 2,912 shares of the company’s stock valued at $47,000 after acquiring an additional 2,337 shares during the period. 72.21% of the stock is currently owned by institutional investors and hedge funds.
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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