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

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

Wall Street Analysts Forecast Growth

LUNR has been the subject of a number of research analyst reports. Roth Mkm lowered their price target on Intuitive Machines from $20.00 to $12.00 and set a "buy" rating for the company in a report on Tuesday, March 11th. Cantor Fitzgerald boosted their target price on shares of Intuitive Machines from $13.00 to $16.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. Canaccord Genuity Group increased their price target on Intuitive Machines from $21.00 to $21.50 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intuitive Machines in a research report on Tuesday, February 25th. They issued a "hold" rating and a $18.00 target price for the company. Finally, Benchmark reissued a "buy" rating and set a $16.00 price target on shares of Intuitive Machines in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $16.06.

Intuitive Machines Trading Up 0.2%

The firm has a 50-day moving average price of $9.20 and a 200-day moving average price of $13.34. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of -3.75 and a beta of 1.47.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. Equities research analysts predict that Intuitive Machines, Inc. will post 0.73 EPS for the current fiscal year.

Insider Transactions at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 161,016 shares of Intuitive Machines stock in a transaction dated 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 of the company's stock, valued at approximately $42,286,692.80. This trade represents a 4.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Peter Mcgrath sold 72,168 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $12.00, for a total value of $866,016.00. Following the sale, the chief financial officer now owns 366,824 shares in the company, valued at approximately $4,401,888. The trade was a 16.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 271,090 shares of company stock valued at $3,106,565 in the last quarter. Insiders own 73.68% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quarry LP purchased a new stake in shares of Intuitive Machines in the 4th quarter valued at approximately $44,000. Jones Financial Companies Lllp grew its position in Intuitive Machines by 751.3% during the 4th quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company's stock worth $70,000 after purchasing an additional 3,381 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in Intuitive Machines by 201.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company's stock valued at $90,000 after purchasing an additional 3,300 shares during the period. Ancora Advisors LLC purchased a new stake in shares of Intuitive Machines in the fourth quarter valued at $91,000. Finally, GAMMA Investing LLC boosted its position in shares of Intuitive Machines by 97,862.5% in the first quarter. GAMMA Investing LLC now owns 7,837 shares of the company's stock worth $580,000 after buying an additional 7,829 shares during the period. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.