Intuitive Machines (NASDAQ:LUNR) Trading Down 7.8% - Time to Sell?

Key Points

• The stock price of Intuitive Machines (NASDAQ:LUNR) dropped by 7.8%, trading at $11.83 after reaching a low of $12.12, with an 81% decline in trading volume compared to its average.
• Analysts have a consensus rating of "Moderate Buy" for Intuitive Machines, with price targets ranging from $10.50 to $21.50 following recent rating adjustments.
• Insider trading activity includes significant sales by Director Kamal Seyed Ghaffarian and CFO Peter Mcgrath, with insiders owning approximately 39.75% of the company's stock.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s stock price fell 7.8% during mid-day trading on Tuesday . The company traded as low as $12.12 and last traded at $11.83. 2,054,888 shares were traded during trading, a decline of 81% from the average session volume of 10,608,286 shares. The stock had previously closed at $12.83.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LUNR. Bank of America lowered their price objective on shares of Intuitive Machines from $16.00 to $10.50 and set an "underperform" rating for the company in a research note on Wednesday, July 16th. Cantor Fitzgerald increased their target price on shares of Intuitive Machines from $13.00 to $16.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Craig Hallum assumed coverage on shares of Intuitive Machines in a research note on Tuesday, July 22nd. They issued a "buy" rating and a $17.00 price target for the company. Roth Capital reiterated a "buy" rating on shares of Intuitive Machines in a research note on Tuesday, May 13th. Finally, Canaccord Genuity Group lifted their target price on Intuitive Machines from $21.00 to $21.50 and gave the company a "buy" rating in a report on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $15.60.

Intuitive Machines Price Performance

The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -4.36 and a beta of 1.41. The stock has a 50 day simple moving average of $11.23 and a two-hundred day simple moving average of $12.19.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.10). The company had revenue of $62.52 million for 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 year.

Insiders Place Their Bets

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 161,016 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $12.10, for a total transaction of $1,948,293.60. Following the sale, the director directly owned 3,494,768 shares in the company, valued at approximately $42,286,692.80. The trade was a 4.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Peter Mcgrath sold 72,168 shares of the company's stock in a transaction dated 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 owned 366,824 shares in the company, valued at $4,401,888. The trade was a 16.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 394,200 shares of company stock valued at $4,752,942. 39.75% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in shares of Intuitive Machines in the fourth quarter worth approximately $44,000. Rossby Financial LCC purchased a new position in Intuitive Machines during the first quarter worth approximately $67,000. Sigma Planning Corp acquired a new position in shares of Intuitive Machines in the 1st quarter valued at $78,000. Park Avenue Securities LLC purchased a new stake in shares of Intuitive Machines during the 1st quarter valued at $81,000. Finally, Philadelphia Trust Co. increased its holdings in shares of Intuitive Machines by 10.0% during the 1st quarter. Philadelphia Trust Co. now owns 11,000 shares of the company's stock worth $82,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company's stock.

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.

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