Intuitive Machines (NASDAQ:LUNR) Trading Down 5.2% - Here's Why

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s stock price traded down 5.2% during mid-day trading on Friday . The stock traded as low as $11.52 and last traded at $11.33. 649,355 shares changed hands during mid-day trading, a decline of 95% from the average session volume of 12,574,710 shares. The stock had previously closed at $11.95.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Roth Capital reaffirmed a "buy" rating on shares of Intuitive Machines in a research report on Tuesday, May 13th. Cantor Fitzgerald increased their price objective on shares of Intuitive Machines from $13.00 to $16.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Canaccord Genuity Group increased their price objective on shares of Intuitive Machines from $21.00 to $21.50 and gave the company a "buy" rating in a research report on Wednesday, May 14th. Bank of America assumed coverage on shares of Intuitive Machines in a research report on Wednesday, February 5th. They issued an "underperform" rating and a $16.00 price objective for the company. Finally, Roth Mkm lowered their price objective on shares of Intuitive Machines from $20.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $16.06.

Intuitive Machines Stock Performance

The company has a market capitalization of $2.04 billion, a PE ratio of -3.89 and a beta of 1.32. The company has a 50 day moving average price of $9.15 and a 200 day moving average price of $13.35.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.10). The company had revenue of $62.52 million during the quarter, compared to analysts' expectations of $66.07 million. On average, equities analysts forecast that Intuitive Machines, Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Peter Mcgrath sold 72,168 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $12.00, for a total transaction of $866,016.00. Following the transaction, the chief financial officer now directly owns 366,824 shares in the company, valued at $4,401,888. This trade represents a 16.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 161,016 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $12.10, for a total value of $1,948,293.60. Following the transaction, the director now owns 3,494,768 shares in the company, valued at $42,286,692.80. This trade represents a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 271,090 shares of company stock worth $3,106,565 over the last ninety days. 73.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

Several large investors have recently added to or reduced their stakes in LUNR. Rhumbline Advisers increased its position in Intuitive Machines by 19.7% in the first quarter. Rhumbline Advisers now owns 52,260 shares of the company's stock worth $389,000 after buying an additional 8,612 shares during the period. Northeast Financial Consultants Inc acquired a new stake in Intuitive Machines in the first quarter worth $224,000. Caxton Associates LLP acquired a new stake in Intuitive Machines in the first quarter worth $139,000. Jones Financial Companies Lllp increased its position in Intuitive Machines by 4,835.4% in the first quarter. Jones Financial Companies Lllp now owns 189,074 shares of the company's stock worth $1,409,000 after buying an additional 185,243 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Intuitive Machines by 43.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,715 shares of the company's stock worth $184,000 after buying an additional 7,528 shares during the period. 72.21% of the stock is currently owned by institutional investors.

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.