Intuitive Machines (NASDAQ:LUNR) Shares Up 8.3% - Here's What Happened

Key Points

• Intuitive Machines shares rose 8.3% to approximately $11.35 in midday trading, although volume was 85% below the stock’s average session volume.
• Analyst sentiment remains mixed: seven analysts rate the stock a Buy and three rate it a Sell, resulting in an overall “Hold” rating and an average price target of $30.50.
• The company recently missed quarterly expectations, reporting a loss of $0.29 per share versus the $0.09 consensus estimate and revenue of $206.17 million versus $212.32 million expected; insiders sold 658,711 shares worth about $10.4 million over the last quarter.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s stock price shot up 8.3% on Tuesday. The stock traded as high as $11.29 and last traded at $11.3450. 1,770,111 shares were traded during mid-day trading, a decline of 85% from the average session volume of 11,592,613 shares. The stock had previously closed at $10.48.

Analyst Ratings Changes

A number of research firms have commented on LUNR. Weiss Ratings reiterated a "sell (d-)" rating on shares of Intuitive Machines in a report on Thursday, October 15th. B. Riley Financial cut their price target on Intuitive Machines from $45.00 to $43.00 and set a "buy" rating for the company in a report on Friday, August 14th. Zacks Research downgraded Intuitive Machines from a "hold" rating to a "strong sell" rating in a research report on Monday, October 12th. Cantor Fitzgerald reissued an "overweight" rating on shares of Intuitive Machines in a research note on Monday, September 21st. Finally, Canaccord Genuity Group lowered their price objective on Intuitive Machines from $41.00 to $39.00 and set a "buy" rating on the stock in a research note on Tuesday, August 18th. Seven equities research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Intuitive Machines currently has an average rating of "Hold" and an average price target of $30.50.

Intuitive Machines Trading Up 11.9%

The company's fifty day moving average is $14.64 and its two-hundred day moving average is $19.89. The stock has a market cap of $2.68 billion, a price-to-earnings ratio of -12.34 and a beta of 1.86.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last released its quarterly 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 business had revenue of $206.17 million during the quarter, compared to the consensus estimate of $212.32 million. Analysts predict that Intuitive Machines, Inc. will post -0.60 EPS for the current year.

Insider Activity

In other news, SVP Timothy Crain, II sold 100,000 shares of Intuitive Machines stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $13.98, for a total value of $1,398,000.00. Following the completion of the transaction, the senior vice president owned 351,279 shares in the company, valued at approximately $4,910,880.42. This trade represents a 22.16% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Vontur sold 3,050 shares of the business's stock in a transaction that occurred on 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 position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 658,711 shares of company stock valued at $10,402,436. 54.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

Several hedge funds and other institutional investors have recently made changes to their positions in LUNR. Nykredit A S purchased a new stake in Intuitive Machines in the second quarter valued at $25,000. Signaturefd LLC increased its position in shares of Intuitive Machines by 119.7% during the third quarter. Signaturefd LLC now owns 2,390 shares of the company's stock worth $34,000 after purchasing an additional 1,302 shares in the last quarter. State of Wyoming acquired a new stake in shares of Intuitive Machines during the first quarter worth about $39,000. PNC Financial Services Group Inc. increased its position in shares of Intuitive Machines by 34.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company's stock worth $52,000 after purchasing an additional 712 shares in the last quarter. Finally, JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Intuitive Machines in the 1st quarter valued at about $59,000. 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 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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