Intuitive Machines (NASDAQ:LUNR) Shares Down 7% Following Weak Earnings

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s share price dropped 7% on Wednesday following a weaker than expected earnings announcement. The company traded as low as $5.27 and last traded at $5.30. Approximately 713,112 shares were traded during trading, a decline of 90% from the average daily volume of 7,399,460 shares. The stock had previously closed at $5.70.

The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.07). Intuitive Machines had a net margin of 78.98% and a negative return on equity of 2.04%. The business had revenue of $73.07 million during the quarter, compared to the consensus estimate of $45.00 million. During the same period in the previous year, the firm posted ($0.24) EPS.

Analysts Set New Price Targets

A number of research firms have weighed in on LUNR. Canaccord Genuity Group decreased their target price on shares of Intuitive Machines from $14.00 to $11.00 and set a "buy" rating for the company in a research report on Wednesday. Cantor Fitzgerald reissued an "overweight" rating and set a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday. Roth Mkm cut their price target on Intuitive Machines from $15.00 to $10.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Benchmark restated a "buy" rating and set a $10.00 price target on shares of Intuitive Machines in a report on Thursday, April 4th.

Insider Buying and Selling

In related news, major shareholder Guy Shanon sold 123,717 shares of Intuitive Machines stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $8.99, for a total value of $1,112,215.83. Following the completion of the sale, the insider now owns 1,302,673 shares of the company's stock, valued at approximately $11,711,030.27. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 73.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Hemington Wealth Management purchased a new stake in shares of Intuitive Machines during the 4th quarter valued at $26,000. Solstein Capital LLC purchased a new stake in shares of Intuitive Machines during the first quarter valued at approximately $44,000. Baltimore Washington Financial Advisors Inc. purchased a new stake in shares of Intuitive Machines during the first quarter worth about $67,000. Sanders Morris Harris LLC bought a new stake in shares of Intuitive Machines in the 1st quarter worth approximately $119,000. Finally, Deuterium Capital Management LLC bought a new position in shares of Intuitive Machines during the first quarter valued at approximately $125,000. 72.21% of the stock is currently owned by institutional investors.

Intuitive Machines Stock Down 8.6 %

The company has a market cap of $635.57 million, a P/E ratio of 2.11 and a beta of 0.34. The business has a fifty day moving average of $5.60 and a 200 day moving average of $4.33.

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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