Intuitive Machines (NASDAQ:LUNR) Shares Gap Up Following Earnings Beat

Key Points

• Intuitive Machines beat quarterly expectations: It reported a loss of $0.02 per share, versus the expected $0.10 loss, and revenue of $269.35 million, above the $245.90 million estimate.
• Shares jumped after the results: The stock opened at $14.35, up from its prior close of $12.18, and was last trading at $13.65.
• Analysts have a “Moderate Buy” consensus rating and an average price target of $29.75, though several brokerages recently lowered their targets. Insiders sold 391,263 shares worth about $6.1 million over the past 90 days.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $12.18, but opened at $14.35. Intuitive Machines shares last traded at $13.6530, with a volume of 8,399,930 shares trading hands.

The company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.08. The business had revenue of $269.35 million during the quarter, compared to analysts' expectations of $245.90 million.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LUNR. B. Riley Financial reduced their price target on Intuitive Machines from $43.00 to $34.00 and set a "buy" rating for the company in a research report on Wednesday, November 4th. Roth Capital set a $30.00 price objective on Intuitive Machines in a report on Thursday, August 13th. Canaccord Genuity Group cut their target price on Intuitive Machines from $41.00 to $39.00 and set a "buy" rating for the company in a research note on Tuesday, August 18th. Cantor Fitzgerald restated an "overweight" rating on shares of Intuitive Machines in a research note on Monday, September 21st. Finally, KeyCorp reduced their target price on Intuitive Machines from $38.00 to $30.00 and set an "overweight" rating for the company in a report on Monday, November 2nd. Seven 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 stock. Based on data from MarketBeat, Intuitive Machines has an average rating of "Moderate Buy" and an average target price of $29.75.

Insiders Place Their Bets

In other news, insider Steven Vontur sold 3,050 shares of Intuitive Machines stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $16.13, for a total transaction of $49,196.50. Following the completion of the sale, the insider owned 113,997 shares in the company, valued at approximately $1,838,771.61. This trade represents a 2.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Timothy Crain, II sold 100,000 shares of Intuitive Machines stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $13.98, for a total value of $1,398,000.00. Following the sale, the senior vice president owned 351,279 shares of the company's stock, valued at approximately $4,910,880.42. This trade represents a 22.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 391,263 shares of company stock worth $6,077,802 in the last ninety days. 54.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LUNR. Nykredit A S purchased a new position in Intuitive Machines in the 2nd quarter worth approximately $25,000. Advisors Asset Management Inc. purchased a new stake in shares of Intuitive Machines during the 3rd quarter valued at $28,000. Signaturefd LLC raised its position in shares of Intuitive Machines by 119.7% during the 3rd quarter. Signaturefd LLC now owns 2,390 shares of the company's stock valued at $34,000 after buying an additional 1,302 shares in the last quarter. State of Wyoming bought a new stake in shares of Intuitive Machines during the 1st quarter worth $39,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Intuitive Machines by 34.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company's stock worth $52,000 after acquiring an additional 712 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors.

Intuitive Machines Trading Up 14.1%

The business's fifty day moving average price is $12.98 and its 200-day moving average price is $19.33. The company has a market capitalization of $3.18 billion, a P/E ratio of -14.51 and a beta of 1.91.

Intuitive Machines Company Profile

Intuitive Machines is a space exploration and infrastructure company headquartered in Houston, Texas. It develops and operates lunar landers and provides services intended to support missions to the Moon and other space destinations. The company's offerings include lunar payload delivery, spacecraft and mission operations, and communications and data services. Its Nova-C lunar lander is designed to carry scientific instruments and other customer payloads to the lunar surface, including through NASA's Commercial Lunar Payload Services program.

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