Intuitive Machines (NASDAQ:LUNR) Shares Down 3.8% – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price traded down 3.8% during mid-day trading on Wednesday . The stock traded as low as $6.70 and last traded at $7.11. 5,656,606 shares changed hands during trading, a decline of 35% from the average session volume of 8,674,517 shares. The stock had previously closed at $7.39.

Analyst Ratings Changes

LUNR has been the topic of a number of recent analyst reports. B. Riley upped their price objective on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of Intuitive Machines in a report on Monday, September 30th. Roth Mkm restated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Finally, Benchmark restated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Intuitive Machines has a consensus rating of “Buy” and an average target price of $10.60.

Intuitive Machines Stock Performance

The business has a 50-day simple moving average of $5.65 and a 200-day simple moving average of $5.11. The company has a market cap of $869.93 million, a price-to-earnings ratio of 17.34 and a beta of 0.34.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $41.41 million during the quarter, compared to analysts’ expectations of $43.00 million. Research analysts anticipate that Intuitive Machines, Inc. will post 0.47 EPS for the current year.

Insider Buying and Selling

In other news, Director Kamal Seyed Ghaffarian sold 570,705 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $6.08, for a total transaction of $3,469,886.40. Following the transaction, the director now directly owns 3,551,606 shares in the company, valued at approximately $21,593,764.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Timothy Price Crain II sold 74,423 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $3.93, for a total value of $292,482.39. Following the completion of the sale, the senior vice president now owns 362,810 shares in the company, valued at $1,425,843.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kamal Seyed Ghaffarian sold 570,705 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $6.08, for a total value of $3,469,886.40. Following the completion of the transaction, the director now directly owns 3,551,606 shares of the company’s stock, valued at $21,593,764.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,991,744 shares of company stock worth $28,226,603 in the last ninety days. 73.68% of the stock is owned by corporate insiders.

Institutional Trading of Intuitive Machines

Several large investors have recently modified their holdings of LUNR. Wedbush Securities Inc. purchased a new position in shares of Intuitive Machines during the 2nd quarter worth $35,000. Baltimore Washington Financial Advisors Inc. acquired a new stake in Intuitive Machines in the 1st quarter worth about $67,000. SG Americas Securities LLC purchased a new stake in Intuitive Machines in the 3rd quarter valued at about $93,000. Sender Co & Partners Inc. acquired a new position in shares of Intuitive Machines during the 2nd quarter valued at about $56,000. Finally, Sanders Morris Harris LLC purchased a new position in shares of Intuitive Machines during the 1st quarter worth about $119,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Machines Company Profile

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.