Intuitive Machines (NASDAQ:LUNR) Stock Price Down 4.1% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares dropped 4.1% during mid-day trading on Friday . The stock traded as low as $38.77 and last traded at $43.83. Approximately 19,677,756 shares changed hands during mid-day trading, an increase of 45% from the average daily volume of 13,557,730 shares. The stock had previously closed at $45.70.

Analyst Ratings Changes

Several brokerages recently weighed in on LUNR. B. Riley Financial upped their price objective on Intuitive Machines to $45.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. Stifel Nicolaus set a $32.00 price target on Intuitive Machines in a report on Friday, May 15th. Wall Street Zen raised Intuitive Machines from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. Finally, Roth Mkm raised their target price on Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Eight analysts have rated the stock with a Buy rating, one has given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.50.

Intuitive Machines Price Performance

The company has a 50 day simple moving average of $27.32 and a 200-day simple moving average of $19.67. The stock has a market cap of $9.51 billion, a P/E ratio of -49.81 and a beta of 1.47.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The business had revenue of $186.73 million during the quarter, compared to analysts’ expectations of $202.95 million. As a group, research analysts expect that Intuitive Machines, Inc. will post -0.35 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Kamal Seyed Ghaffarian sold 141,909 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $34.25, for a total value of $4,860,383.25. Following the completion of the sale, the director owned 3,494,768 shares of the company’s stock, valued at approximately $119,695,804. The trade was a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy Price Crain II sold 8,447 shares of the business’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total value of $199,433.67. Following the completion of the sale, the senior vice president directly owned 351,279 shares of the company’s stock, valued at approximately $8,293,697.19. This trade represents a 2.35% 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. In the last 90 days, insiders sold 1,048,206 shares of company stock worth $24,782,839. Insiders own 54.10% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its stake in shares of Intuitive Machines by 188.9% in the 1st quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock valued at $34,948,000 after acquiring an additional 1,231,188 shares during the last quarter. JTC Employer Solutions Trustee Ltd bought a new position in Intuitive Machines during the 1st quarter valued at approximately $59,000. Janus Henderson Group PLC raised its position in Intuitive Machines by 38.9% during the 1st quarter. Janus Henderson Group PLC now owns 51,100 shares of the company’s stock valued at $947,000 after purchasing an additional 14,300 shares during the last quarter. California State Teachers Retirement System raised its position in Intuitive Machines by 28.2% during the 1st quarter. California State Teachers Retirement System now owns 126,442 shares of the company’s stock valued at $2,347,000 after purchasing an additional 27,793 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Intuitive Machines by 2.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 53,679 shares of the company’s stock valued at $996,000 after purchasing an additional 1,235 shares during the last quarter. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.