Intuitive Machines (NASDAQ:LUNR) Shares Down 6.8% - Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) fell 6.8% during trading on Monday . The stock traded as low as $7.01 and last traded at $6.94. Approximately 693,845 shares were traded during mid-day trading, a decline of 94% from the average session volume of 12,017,262 shares. The stock had previously closed at $7.45.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LUNR. Roth Mkm cut their target price on shares of Intuitive Machines from $20.00 to $12.00 and set a "buy" rating on the stock in a research note on Tuesday, March 11th. Canaccord Genuity Group lowered their target price on Intuitive Machines from $22.00 to $21.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Roth Capital set a $20.00 price objective on Intuitive Machines in a research report on Friday, March 7th. Bank of America began coverage on shares of Intuitive Machines in a research report on Wednesday, February 5th. They issued an "underperform" rating and a $16.00 target price on the stock. Finally, Benchmark reissued a "buy" rating and set a $16.00 price target on shares of Intuitive Machines in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $16.00.

Intuitive Machines Stock Up 2.4 %

The firm's fifty day simple moving average is $9.59 and its 200-day simple moving average is $12.94. The firm has a market capitalization of $1.53 billion, a PE ratio of -2.92 and a beta of 1.33.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its earnings results on Tuesday, March 25th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.12. The company had revenue of $54.66 million for the quarter, compared to the consensus estimate of $72.58 million. As a group, analysts predict that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In other Intuitive Machines news, insider Steven Vontur sold 4,528 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the sale, the insider now owns 104,272 shares in the company, valued at approximately $2,043,731.20. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Peter Mcgrath sold 37,906 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $7.71, for a total transaction of $292,255.26. Following the completion of the transaction, the chief financial officer now owns 438,992 shares of the company's stock, valued at approximately $3,384,628.32. The trade was a 7.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,700 shares of company stock valued at $589,489. 73.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds have recently made changes to their positions in the business. Stifel Financial Corp purchased a new position in Intuitive Machines in the 3rd quarter worth approximately $525,000. State Street Corp raised its holdings in shares of Intuitive Machines by 1.3% during the 3rd quarter. State Street Corp now owns 576,051 shares of the company's stock worth $4,637,000 after acquiring an additional 7,538 shares in the last quarter. Barclays PLC increased its position in Intuitive Machines by 275.2% in the third quarter. Barclays PLC now owns 37,323 shares of the company's stock worth $300,000 after purchasing an additional 27,376 shares during the last quarter. Geode Capital Management LLC increased its position in Intuitive Machines by 31.2% in the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company's stock worth $7,514,000 after purchasing an additional 222,136 shares during the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in Intuitive Machines during the fourth quarter valued at $904,000. Institutional investors own 72.21% of the company's stock.

About Intuitive Machines

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.