Intuitive Machines (NASDAQ:LUNR) Shares Down 1.3% - Here's What Happened

Key Points

• Intuitive Machines shares fell 1.3% to $14.05 on Thursday, with trading volume down 31% from its average. The stock remains below its 50-day and 200-day moving averages.
• Analyst opinions remain mixed, but the consensus rating is “Moderate Buy” with a $30.50 price target. Seven analysts rate the stock a Buy, compared with one Hold and two Sell ratings.
• The company reported a quarterly loss of $0.29 per share, missing estimates by $0.20, while revenue of $206.17 million also fell short of expectations. Insiders sold roughly 12.2 million shares worth $158.6 million over the past 90 days.

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) were down 1.3% on Thursday. The company traded as low as $13.92 and last traded at $14.05. Approximately 8,225,504 shares changed hands during trading, a decline of 31% from the average daily volume of 12,005,788 shares. The stock had previously closed at $14.24.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Bank of America raised their target price on Intuitive Machines from $11.00 to $13.00 and gave the company an "underperform" rating in a research note on Monday, August 31st. Stifel Nicolaus upgraded Intuitive Machines from a "hold" rating to a "buy" rating and decreased their price objective for the company from $32.00 to $26.00 in a research report on Friday, August 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of Intuitive Machines in a report on Friday, July 17th. Cantor Fitzgerald restated an "overweight" rating on shares of Intuitive Machines in a report on Monday, September 21st. Finally, B. Riley Financial decreased their target price on Intuitive Machines from $45.00 to $43.00 and set a "buy" rating for the company in a research report on Friday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, Intuitive Machines has an average rating of "Moderate Buy" and a consensus price target of $30.50.

Intuitive Machines Stock Down 1.3%

The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of -14.79 and a beta of 1.85. The business's fifty day moving average is $15.27 and its 200 day moving average is $21.40.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.20). The business had revenue of $206.17 million during the quarter, compared to analysts' expectations of $212.32 million. Equities research analysts expect that Intuitive Machines, Inc. will post -0.6 EPS for the current year.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, major shareholder International L.P. Advent sold 11,495,514 shares of the company's stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $12.84, for a total transaction of $147,602,399.76. Following the completion of the transaction, the insider owned 11,495,514 shares of the company's stock, valued at $147,602,399.76. This represents a 50.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kamal Ghaffarian sold 267,448 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.17, for a total transaction of $4,324,634.16. Following the transaction, the director directly owned 3,494,768 shares of the company's stock, valued at $56,510,398.56. This represents a 7.11% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 12,201,528 shares of company stock worth $158,629,235. Insiders own 54.10% of the company's stock.

Institutional Trading of Intuitive Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tema ETFs LLC boosted its stake in shares of Intuitive Machines by 139,768.2% during the 2nd quarter. Tema ETFs LLC now owns 3,105,074 shares of the company's stock worth $66,418,000 after acquiring an additional 3,102,854 shares during the period. Tidal Investments LLC acquired a new position in Intuitive Machines in the 2nd quarter valued at $64,452,000. Renaissance Technologies LLC bought a new position in Intuitive Machines in the first quarter valued at approximately $35,895,000. Bank of America Corp DE raised its stake in Intuitive Machines by 188.9% during the first quarter. Bank of America Corp DE now owns 1,882,973 shares of the company's stock worth $34,948,000 after acquiring an additional 1,231,188 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Intuitive Machines by 28.8% during the first quarter. First Trust Advisors LP now owns 657,318 shares of the company's stock worth $12,200,000 after buying an additional 147,095 shares during the last quarter. 72.21% of the stock is owned by institutional investors.

About Intuitive Machines

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and operates lunar landers, spacecraft, and related systems designed to deliver payloads to the Moon and support communications, navigation, and other lunar operations.

Its primary product platform is the Nova-C lunar lander, which is designed to transport scientific instruments, technology demonstrations, and commercial payloads to the lunar surface. Intuitive Machines also provides lunar data transmission and satellite communications services, autonomous navigation systems, precision landing technologies, and other products intended to support a broader lunar economy.

Founded in 2013 by Steve Altemus, who serves as president and chief executive officer, Intuitive Machines became a publicly traded company in 2024.

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