Intuitive Machines (NASDAQ:LUNR) Stock Price Down 4.2% – Here’s Why

Intuitive Machines, Inc. (NASDAQ:LUNR) fell 4.2% during mid-day trading on Monday . The company traded as low as $7.86 and last traded at $7.89. 3,557,556 shares were traded during trading, a decline of 59% from the average session volume of 8,695,096 shares. The stock had previously closed at $8.24.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. B. Riley increased their target price on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Benchmark restated a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, September 18th. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Monday, September 30th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $10.60.

Intuitive Machines Stock Performance

The stock has a market cap of $1.01 billion, a PE ratio of 19.51 and a beta of 0.34. The company’s 50-day moving average price is $6.52 and its two-hundred day moving average price is $5.23.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $41.41 million during the quarter, compared to analysts’ expectations of $43.00 million. Equities research analysts forecast that Intuitive Machines, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 74,423 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,425,843.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Stephen J. Altemus sold 250,000 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $9.01, for a total transaction of $2,252,500.00. Following the completion of the transaction, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at approximately $8,207,380.19. This 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 hyperlink. Also, SVP Timothy Price Crain II sold 74,423 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was 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 directly owns 362,810 shares in the company, valued at $1,425,843.30. 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 4,115,621 shares of company stock worth $30,427,371 over the last ninety days. Insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently bought and sold shares of LUNR. Wedbush Securities Inc. bought a new position in shares of Intuitive Machines during the second quarter valued at approximately $35,000. Sender Co & Partners Inc. purchased a new position in Intuitive Machines during the 2nd quarter valued at $56,000. Baltimore Washington Financial Advisors Inc. bought a new position in Intuitive Machines in the 1st quarter worth $67,000. Waldron Private Wealth LLC purchased a new stake in shares of Intuitive Machines in the 3rd quarter worth about $83,000. Finally, SG Americas Securities LLC bought a new stake in shares of Intuitive Machines during the 3rd quarter valued at about $93,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

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.