Intuitive Machines (NASDAQ:LUNR) Trading 7% Higher - Still a Buy?

Key Points

• Intuitive Machines shares rose about 7% to $20.34 in mid-day trading, although volume was 45% below its average. The stock has a $4.45 billion market capitalization and trades below its 200-day moving average.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $30.31; however, targets range from $26 to $43 and some analysts maintain a sell rating.
• The company recently missed quarterly expectations, reporting a $0.29 loss per share versus a forecasted $0.09 loss and revenue of $206.17 million versus $212.32 million expected. Insiders have also sold 12.4 million shares worth $168.5 million over the past three months.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s stock price was up 7% during mid-day trading on Monday . The stock traded as high as $20.65 and last traded at $20.34. Approximately 7,060,801 shares traded hands during mid-day trading, a decline of 45% from the average daily volume of 12,893,334 shares. The stock had previously closed at $19.01.

Analysts Set New Price Targets

Several research analysts have recently commented on LUNR shares. B. Riley Financial reduced their price target on Intuitive Machines from $45.00 to $43.00 and set a "buy" rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $34.00 price objective on shares of Intuitive Machines in a research report on Wednesday, May 20th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Intuitive Machines in a research note on Friday, July 17th. Roth Capital set a $30.00 price target on shares of Intuitive Machines in a research note on Thursday. Finally, Stifel Nicolaus upgraded shares of Intuitive Machines from a "hold" rating to a "buy" rating and cut their price target for the stock from $32.00 to $26.00 in a report on Friday. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $30.31.

Intuitive Machines Stock Up 7.9%

The company has a market cap of $4.45 billion, a price-to-earnings ratio of -21.59 and a beta of 1.83. The stock's 50-day simple moving average is $18.17 and its 200 day simple moving average is $21.92.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.20). The business had revenue of $206.17 million for the quarter, compared to analyst estimates of $212.32 million. On average, sell-side analysts expect that Intuitive Machines, Inc. will post -0.35 EPS for the current fiscal year.

Insider Transactions at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 267,448 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $16.17, for a total transaction of $4,324,634.16. Following the completion of the transaction, the director directly owned 3,494,768 shares in the company, valued at $56,510,398.56. This trade represents a 7.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy Price Crain II sold 150,000 shares of Intuitive Machines stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $21.87, for a total value of $3,280,500.00. Following the completion of the sale, the senior vice president directly owned 351,279 shares of the company's stock, valued at $7,682,471.73. The trade was a 29.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,404,313 shares of company stock valued at $168,526,592 over the last three months. 54.10% of the stock is currently owned by company insiders.

Institutional Trading of Intuitive Machines

Institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. raised its position in Intuitive Machines by 34.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company's stock valued at $52,000 after purchasing an additional 712 shares in the last quarter. Sigma Planning Corp increased its stake in shares of Intuitive Machines by 8.8% during the fourth quarter. Sigma Planning Corp now owns 10,947 shares of the company's stock worth $178,000 after buying an additional 886 shares during the period. Nations Financial Group Inc. IA ADV increased its stake in shares of Intuitive Machines by 9.9% during the first 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 raised its holdings in 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 acquiring an additional 1,016 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Intuitive Machines by 3.6% in the fourth quarter. Handelsbanken Fonder AB now owns 34,400 shares of the company's stock worth $558,000 after acquiring an additional 1,200 shares during the last quarter. 72.21% of the stock is currently 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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