Intuitive Machines (NASDAQ:LUNR) Shares Down 6.8% - What's Next?

Key Points

• Shares fell 6.8% intraday to about $22.91 on Wednesday, with just 1.68M shares traded—roughly an 87% drop from the stock's average session volume.
• Several analysts raised price targets recently, but the consensus remains a "Hold" with an average target of $21.55 (ratings: 8 Buy, 3 Hold, 2 Sell).
• The company slightly beat EPS expectations (-$0.04 vs. -$0.05) but missed revenue forecasts ($44.79M vs. $53.37M), and insiders have sold 904,301 shares (~$18.7M) over the past 90 days to cover tax obligations.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s share price fell 6.8% during trading on Wednesday . The company traded as low as $23.06 and last traded at $22.9070. 1,682,285 shares traded hands during trading, a decline of 87% from the average session volume of 12,713,546 shares. The stock had previously closed at $24.58.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Canaccord Genuity Group raised their price objective on Intuitive Machines from $22.50 to $24.00 and gave the company a "buy" rating in a research note on Friday, March 20th. KeyCorp raised their price objective on Intuitive Machines from $26.00 to $27.00 and gave the company an "overweight" rating in a research note on Wednesday. Cantor Fitzgerald raised their price objective on Intuitive Machines from $16.00 to $26.00 and gave the company an "overweight" rating in a research note on Friday, March 20th. Deutsche Bank Aktiengesellschaft raised their price objective on Intuitive Machines from $18.00 to $22.00 and gave the company a "buy" rating in a research note on Friday, March 20th. Finally, B. Riley Financial reaffirmed a "buy" rating on shares of Intuitive Machines in a research note on Tuesday, February 17th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $21.55.

Intuitive Machines Stock Down 1.9%

The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of -32.51 and a beta of 1.31. The firm has a 50 day moving average of $20.82 and a two-hundred day moving average of $16.54.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last released its quarterly earnings data on Thursday, March 19th. The company reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.01. The firm had revenue of $44.79 million for the quarter, compared to analyst estimates of $53.37 million. Sell-side analysts forecast that Intuitive Machines, Inc. will post -0.04 EPS for the current fiscal year.

Insider Activity at Intuitive Machines

In related news, SVP Timothy Price Crain II sold 8,447 shares of the firm's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total transaction of $199,433.67. Following the sale, the senior vice president owned 351,279 shares of the company's stock, valued at $8,293,697.19. This trade represents a 2.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Peter Mcgrath sold 24,554 shares of the firm'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 sale, the chief financial officer directly owned 401,246 shares in the company, valued at approximately $9,473,418.06. This trade represents a 5.77% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 904,301 shares of company stock worth $18,670,817 over the last 90 days. 39.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

Several hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted 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 valued at $43,000 after acquiring an additional 781 shares in the last quarter. Sigma Planning Corp boosted its holdings in shares of Intuitive Machines by 8.8% during the 4th quarter. Sigma Planning Corp now owns 10,947 shares of the company's stock valued at $178,000 after acquiring an additional 886 shares in the last quarter. Nations Financial Group Inc. IA ADV lifted its holdings in Intuitive Machines by 9.9% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 11,080 shares of the company's stock worth $206,000 after buying an additional 1,000 shares during the period. Larson Financial Group LLC lifted its holdings in Intuitive Machines by 63.2% during the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company's stock worth $43,000 after buying an additional 1,016 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in Intuitive Machines by 3.6% during the 4th quarter. Handelsbanken Fonder AB now owns 34,400 shares of the company's stock worth $558,000 after buying an additional 1,200 shares during the period. Institutional investors and hedge funds own 72.21% of the company's stock.

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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