Intuitive Machines (NASDAQ:LUNR) Shares Down 4.5% - What's Next?

Key Points

• Intuitive Machines shares fell 4.5% in midday trading, hitting an intraday low of $15.92 after trading below the prior close of $16.90. Volume was lighter than usual, with about 9.3 million shares changing hands.
• Recent analyst opinions are mixed: Deutsche Bank and B. Riley kept buy ratings, while Zacks cut the stock to strong sell and Wall Street Zen downgraded it to sell. Overall, the consensus rating remains Hold with a $31.50 price target.
• The company’s latest earnings missed expectations, posting a loss of $0.25 per share versus the expected $0.07 loss, while revenue came in below estimates at $186.73 million. Insiders have also sold shares recently, adding to investor caution.

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) were down 4.5% during mid-day trading on Friday . The stock traded as low as $15.92 and last traded at $16.14. Approximately 9,286,267 shares traded hands during trading, a decline of 31% from the average session volume of 13,419,997 shares. The stock had previously closed at $16.90.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and issued a $34.00 target price on shares of Intuitive Machines in a report on Wednesday, May 20th. Zacks Research lowered shares of Intuitive Machines from a "hold" rating to a "strong sell" rating in a research note on Tuesday, May 19th. Wall Street Zen raised shares of Intuitive Machines from a "strong sell" rating to a "sell" rating in a report on Sunday, May 24th. Cantor Fitzgerald increased their target price on shares of Intuitive Machines from $26.00 to $43.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 19th. Finally, B. Riley Financial reissued a "buy" rating on shares of Intuitive Machines in a report on Wednesday, June 24th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $31.50.

Intuitive Machines Stock Down 4.5%

The company has a market cap of $3.50 billion, a price-to-earnings ratio of -18.34 and a beta of 1.78. The business has a fifty day simple moving average of $28.12 and a 200 day simple moving average of $22.62.

Intuitive Machines (NASDAQ:LUNR - Get 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 firm had revenue of $186.73 million for the quarter, compared to analyst estimates of $202.95 million. Equities analysts anticipate that Intuitive Machines, Inc. will post -0.36 EPS for the current fiscal year.

Insider Activity at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 13,751 shares of Intuitive Machines stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total transaction of $324,661.11. Following the completion of the sale, the chief executive officer directly owned 1,162,495 shares in the company, valued at approximately $27,446,506.95. This trade represents a 1.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 business's stock in a transaction that occurred 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 sale, the director directly owned 68,875 shares in the company, valued at $2,057,296.25. This trade represents a 21.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 1,066,527 shares of company stock valued at $29,503,106 in the last ninety days. Company insiders own 54.10% of the company's stock.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds have recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in Intuitive Machines during the fourth quarter worth $28,000. State of Wyoming acquired a new stake in Intuitive Machines in the first quarter valued at $39,000. Larson Financial Group LLC increased its position in shares of Intuitive Machines by 63.2% in the fourth 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 in the last quarter. GAMMA Investing LLC increased its position in shares of Intuitive Machines by 41.5% in the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company's stock valued at $43,000 after buying an additional 781 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Intuitive Machines by 34.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company's stock worth $52,000 after buying an additional 712 shares during the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

Intuitive Machines Company Profile

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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