Intuitive Machines (NASDAQ:LUNR) Shares Up 3% - What's Next?

Key Points

• Intuitive Machines shares rose 3% to approximately $15.70, with trading volume below its average. The stock remains well below its 200-day moving average of $21.50.
• Analyst sentiment is mixed but leans positive: seven analysts rate the stock Buy, compared with one Hold and two Sell ratings. The consensus rating is Moderate Buy, with a $30.50 price target.
• The company reported a quarterly loss of $0.29 per share, missing the $0.09 consensus estimate, while revenue of $206.17 million also fell short of forecasts. Insiders sold more than 12.3 million shares worth about $161.5 million over the past 90 days.

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) traded up 3% during mid-day trading on Thursday. The stock traded as high as $16.08 and last traded at $15.70. Approximately 7,995,189 shares were traded during trading, a decline of 34% from the average session volume of 12,129,670 shares. The stock had previously closed at $15.24.

Analyst Ratings Changes

A number of research firms recently weighed in on LUNR. Canaccord Genuity Group reduced their price target on Intuitive Machines from $41.00 to $39.00 and set a "buy" rating for the company in a report on Tuesday, August 18th. Bank of America upped their price target 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. Cantor Fitzgerald reiterated an "overweight" rating on shares of Intuitive Machines in a research note on Monday. Weiss Ratings restated a "sell (d-)" rating on shares of Intuitive Machines in a research report on Friday, July 17th. Finally, B. Riley Financial lowered their price objective on Intuitive Machines from $45.00 to $43.00 and set a "buy" rating on the stock in a research note on Friday, August 14th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $30.50.

Intuitive Machines Trading Up 3.0%

The company has a market capitalization of $3.59 billion, a PE ratio of -16.53 and a beta of 1.85. The business has a fifty day moving average of $15.15 and a 200 day moving average of $21.50.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its quarterly 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 the consensus estimate of $212.32 million. Equities analysts forecast that Intuitive Machines, Inc. will post -0.6 EPS for the current fiscal year.

Insider Transactions at Intuitive Machines

In related news, insider Steven Vontur sold 3,050 shares of the firm's 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 transaction, the insider owned 113,997 shares of the company's stock, valued at $1,838,771.61. This trade represents a 2.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder International L.P. Advent sold 11,495,514 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $12.84, for a total value of $147,602,399.76. Following the sale, the insider directly owned 11,495,514 shares of the company's stock, valued at $147,602,399.76. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 12,343,437 shares of company stock worth $161,528,436. 54.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Machines

A number of hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. raised its stake in shares of Intuitive Machines by 34.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company's stock valued at $52,000 after acquiring an additional 712 shares during the period. Nations Financial Group Inc. IA ADV increased its holdings in Intuitive Machines by 9.9% in the 1st quarter. Nations Financial Group Inc. IA ADV now owns 11,080 shares of the company's stock valued at $206,000 after purchasing an additional 1,000 shares in the last quarter. Larson Financial Group LLC raised its position in Intuitive Machines by 63.2% in the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company's stock valued at $43,000 after purchasing an additional 1,016 shares during the period. Nykredit A S acquired a new position in shares of Intuitive Machines during the second quarter worth about $25,000. Finally, Handelsbanken Fonder AB lifted its stake in shares of Intuitive Machines by 3.6% during the fourth quarter. Handelsbanken Fonder AB now owns 34,400 shares of the company's stock worth $558,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors and hedge funds 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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