Intuitive Machines (NASDAQ:LUNR) Shares Up 11.7% - What's Next?

Key Points

• Intuitive Machines shares rose 11.7% to $9.63, although trading volume was 76% below its daily average.
• Analyst views were mixed: seven rated the stock Buy and three Sell, for an overall MarketBeat rating of Hold and an average price target of $29.75.
• The company’s latest quarter missed expectations, reporting a loss of $0.29 per share versus a projected $0.09 loss, and revenue of $206.17 million versus a $212.32 million estimate. Insiders also sold 658,711 shares worth about $10.4 million over the past three months.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s stock price rose 11.7% during trading on Friday. The stock traded as high as $9.75 and last traded at $9.6310. Approximately 2,747,905 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 11,433,897 shares. The stock had previously closed at $8.62.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LUNR. Cantor Fitzgerald reissued an "overweight" rating on shares of Intuitive Machines in a research note on Monday, September 21st. Canaccord Genuity Group cut their price objective on Intuitive Machines from $41.00 to $39.00 and set a "buy" rating on the stock in a research report on Tuesday, August 18th. KeyCorp reduced their target price on Intuitive Machines from $38.00 to $30.00 and set an "overweight" rating on the stock in a report on Monday. Zacks Research lowered Intuitive Machines from a "hold" rating to a "strong sell" rating in a research report on Monday, October 12th. Finally, Stifel Nicolaus upgraded Intuitive Machines from a "hold" rating to a "buy" rating and lowered their target price for the company from $32.00 to $26.00 in a research note on Friday, August 14th. Seven analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Intuitive Machines presently has an average rating of "Hold" and an average target price of $29.75.

Intuitive Machines Stock Performance

The stock has a market capitalization of $2.26 billion, a P/E ratio of -10.53 and a beta of 1.91. The business has a 50-day moving average price of $13.29 and a 200 day moving average price of $19.50.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.20). The company had revenue of $206.17 million during the quarter, compared to the consensus estimate of $212.32 million. As a group, research analysts forecast that Intuitive Machines, Inc. will post -0.60 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Timothy Crain, II sold 100,000 shares of the company's 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 transaction, the senior vice president owned 351,279 shares in the company, valued at $4,910,880.42. The trade was a 22.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kamal Ghaffarian sold 267,448 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.17, for a total transaction of $4,324,634.16. Following the sale, the director directly owned 3,494,768 shares in the company, valued at $56,510,398.56. This trade 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. Insiders sold 658,711 shares of company stock worth $10,402,436 over the last three months. 54.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Calamos Advisors LLC purchased a new position in shares of Intuitive Machines during the first quarter valued at approximately $2,984,000. Fifth Third Bancorp bought a new position in Intuitive Machines during the first quarter valued at approximately $4,314,000. Raiffeisen Bank International AG bought a new position in Intuitive Machines during the second quarter valued at approximately $3,565,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Intuitive Machines by 202.1% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 461,564 shares of the company's stock worth $8,567,000 after purchasing an additional 308,755 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Intuitive Machines in the first quarter worth approximately $35,895,000. 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 operates spacecraft, lunar landers, and related systems designed to support missions to the Moon and other destinations. Its offerings include lunar payload delivery, spacecraft and satellite components, communications and navigation services, and data products for government and commercial customers.

Intuitive Machines is a major participant in NASA's Commercial Lunar Payload Services program, under which it delivers scientific and technology payloads to the lunar surface.

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