Intuitive Machines (NASDAQ:LUNR) Shares Down 2.6% - Here's Why

Key Points

• Intuitive Machines shares fell 2.6% to $15.20, with trading volume 36% below the average session volume. The stock remains well below its 200-day moving average of $21.47.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $30.50, despite several recent target-price reductions.
• The company reported a quarterly loss of $0.29 per share, missing the $0.09 loss estimate, while revenue of $206.17 million also fell short of expectations. Insiders have sold 12.2 million shares worth approximately $158.6 million over the past 90 days.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) dropped 2.6% on Monday. The stock traded as low as $15.13 and last traded at $15.20. 7,674,385 shares traded hands during mid-day trading, a decline of 36% from the average session volume of 12,070,464 shares. The stock had previously closed at $15.61.

Wall Street Analyst Weigh In

A number of brokerages have commented on LUNR. Cantor Fitzgerald reissued an "overweight" rating on shares of Intuitive Machines in a report on Monday, September 21st. Canaccord Genuity Group lowered their target price on shares of Intuitive Machines from $41.00 to $39.00 and set a "buy" rating for the company in a report on Tuesday, August 18th. Roth Capital set a $30.00 price target on shares of Intuitive Machines in a research report on Thursday, August 13th. B. Riley Financial cut their price target on shares of Intuitive Machines from $45.00 to $43.00 and set a "buy" rating on the stock in a report on Friday, August 14th. Finally, Bank of America upped their price objective on shares of Intuitive Machines from $11.00 to $13.00 and gave the stock an "underperform" rating in a research report on Monday, August 31st. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.50.

Intuitive Machines Stock Performance

The stock has a market cap of $3.48 billion, a P/E ratio of -16.00 and a beta of 1.85. The business has a 50 day simple moving average of $15.24 and a 200-day simple moving average of $21.47.

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

Insider Activity at Intuitive Machines

In related news, insider Steven Vontur sold 3,050 shares of Intuitive Machines stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $16.13, for a total value of $49,196.50. Following the sale, the insider owned 113,997 shares of the company's stock, valued at approximately $1,838,771.61. The trade was a 2.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kamal Ghaffarian sold 1,698 shares of the company's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $16.00, for a total value of $27,168.00. Following the completion of the transaction, the director owned 3,494,768 shares in the company, valued at approximately $55,916,288. The trade was a 0.05% decrease in their position. 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. In the last 90 days, insiders have sold 12,201,528 shares of company stock worth $158,629,235. 54.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Tidal Investments LLC bought a new position in shares of Intuitive Machines during the 2nd quarter worth $64,452,000. WINTON GROUP Ltd raised its stake in Intuitive Machines by 538.9% in the 2nd quarter. WINTON GROUP Ltd now owns 171,857 shares of the company's stock valued at $3,676,000 after acquiring an additional 144,957 shares during the period. Engineers Gate Manager LP bought a new stake in Intuitive Machines in the 2nd quarter valued at about $1,732,000. Integrated Wealth Concepts LLC purchased a new stake in Intuitive Machines during the second quarter valued at about $88,000. Finally, Connective Capital Management LLC purchased a new stake in Intuitive Machines during the second quarter valued at about $393,000. Hedge funds and other institutional investors own 72.21% of the company's stock.

Intuitive Machines Company Profile

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and delivers lunar missions, spacecraft, and related services for government and commercial customers, with a focus on supporting a sustainable presence on the Moon.

Its activities include lunar payload delivery, spacecraft and lander development, lunar communications and navigation services, and the collection and transmission of data from the lunar surface. Intuitive Machines' Nova-C lunar lander is designed to transport scientific instruments, technology demonstrations, and other payloads to the Moon.

Founded in 2013 by Stephen Altemus, who serves as president and chief executive officer, Intuitive Machines has supported NASA's Commercial Lunar Payload Services program.

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