Intuitive Machines (NASDAQ:LUNR) Shares Down 6.3% - Here's What Happened

Key Points

• Intuitive Machines' shares fell by 6.3% to close at $12.98, with trading volume down 26% compared to average levels.
• Analysts have given mixed ratings for the stock, with Bank of America lowering its price target to $8.50, while others like Craig Hallum maintained a "buy" rating with a target of $17.00.
• The company's latest earnings report revealed a loss of ($0.11) per share, missing projections, with revenue also falling short of analyst expectations.

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) traded down 6.3% on Wednesday . The stock traded as low as $13.12 and last traded at $12.98. 7,271,371 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 9,860,819 shares. The stock had previously closed at $13.85.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on LUNR. Bank of America cut their price target on Intuitive Machines from $10.50 to $8.50 and set an "underperform" rating on the stock in a research note on Monday, August 25th. UBS Group restated a "buy" rating on shares of Intuitive Machines in a report on Monday, August 18th. Canaccord Genuity Group cut their price objective on shares of Intuitive Machines from $19.00 to $18.50 and set a "buy" rating for the company in a research report on Tuesday, August 19th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Intuitive Machines in a research report on Wednesday, October 8th. Finally, Craig Hallum began coverage on shares of Intuitive Machines in a report on Tuesday, July 22nd. They issued a "buy" rating and a $17.00 target price on the stock. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $15.44.

Intuitive Machines Stock Down 7.9%

The stock has a market capitalization of $2.28 billion, a PE ratio of -3.98 and a beta of 1.41. The firm's fifty day moving average price is $9.84 and its two-hundred day moving average price is $10.06.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.05). The business had revenue of $50.31 million for the quarter, compared to analyst estimates of $69.19 million. Intuitive Machines has set its FY 2025 guidance at EPS. As a group, analysts predict that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

Insider Buying and Selling at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 40,254 shares of the business's stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $13.49, for a total transaction of $543,026.46. Following the completion of the sale, the director owned 3,494,768 shares in the company, valued at approximately $47,144,420.32. The trade was a 1.14% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 39.75% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Golden State Wealth Management LLC grew its position in Intuitive Machines by 180.0% in the second quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company's stock valued at $30,000 after acquiring an additional 1,800 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Intuitive Machines by 35.6% during the second quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company's stock valued at $47,000 after purchasing an additional 1,127 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Intuitive Machines by 97,862.5% during the first quarter. GAMMA Investing LLC now owns 7,837 shares of the company's stock valued at $580,000 after purchasing an additional 7,829 shares in the last quarter. Rossby Financial LCC acquired a new stake in Intuitive Machines in the 1st quarter valued at about $67,000. Finally, Sigma Planning Corp acquired a new stake in Intuitive Machines in the 1st quarter valued at about $78,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Machines Company Profile

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.

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