Intuitive Machines (NASDAQ:LUNR) Trading Down 5.5% - What's Next?

Key Points

• Intuitive Machines shares fell 5.5% in midday trading, with volume below average; the stock moved from a prior close of $18.89 to as low as $16.17 before last trading around $17.85.
• Analyst sentiment remains mixed but generally constructive: eight analysts rate the stock a Buy, with a consensus rating of Hold and an average price target of $31.50, despite a recent downgrade from Wall Street Zen.
• The company posted a Q1 earnings miss, reporting EPS of -$0.25 versus -$0.07 expected and revenue of $186.73 million versus $202.95 million expected; insiders have also sold shares recently, while hedge funds still own a large majority of the stock.

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) traded down 5.5% during mid-day trading on Tuesday . The company traded as low as $16.17 and last traded at $17.85. Approximately 7,731,092 shares changed hands during trading, a decline of 43% from the average session volume of 13,518,197 shares. The stock had previously closed at $18.89.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LUNR shares. Wall Street Zen upgraded shares of Intuitive Machines from a "strong sell" rating to a "sell" rating in a research report on Sunday, May 24th. B. Riley Financial reissued a "buy" rating on shares of Intuitive Machines in a research report on Wednesday, June 24th. Stifel Nicolaus set a $32.00 price target on Intuitive Machines in a report on Friday, May 15th. Roth Capital increased their price target on Intuitive Machines from $25.00 to $35.00 and gave the stock a "buy" rating in a research note on Friday, April 17th. Finally, KeyCorp boosted their target price on shares of Intuitive Machines from $26.00 to $27.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $31.50.

Intuitive Machines Stock Down 5.5%

The stock has a market capitalization of $3.87 billion, a P/E ratio of -20.28 and a beta of 1.78. The company has a 50 day moving average of $28.62 and a 200-day moving average of $22.51.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The firm had revenue of $186.73 million for the quarter, compared to the consensus estimate of $202.95 million. Equities analysts forecast that Intuitive Machines, Inc. will post -0.36 EPS for the current fiscal year.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, CFO Peter Mcgrath sold 24,554 shares of the business's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total transaction 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. The trade was a 5.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock in a transaction on Monday, June 29th. The shares were sold at an average price of $20.43, for a total value of $2,899,200.87. Following the transaction, the director owned 3,494,768 shares in the company, valued at approximately $71,398,110.24. This trade represents a 3.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,066,527 shares of company stock worth $29,503,106 over the last ninety days. Insiders own 54.10% of the company's stock.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its stake in Intuitive Machines by 34.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company's stock valued at $52,000 after acquiring an additional 712 shares during the last quarter. GAMMA Investing LLC increased its position in Intuitive Machines by 41.5% during the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company's stock worth $43,000 after buying an additional 781 shares during the last quarter. Sigma Planning Corp lifted its position in shares of Intuitive Machines by 8.8% in 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 last quarter. Nations Financial Group Inc. IA ADV boosted its stake in shares of 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 acquiring an additional 1,000 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in shares of Intuitive Machines by 63.2% in the 4th 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. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.