Intuitive Machines (NASDAQ:LUNR) Shares Down 4.5% – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price was down 4.5% during mid-day trading on Friday . The company traded as low as $15.92 and last traded at $16.14. Approximately 9,286,267 shares traded hands during trading, a decline of 31% from the average session volume of 13,419,997 shares. The stock had previously closed at $16.90.

Wall Street Analysts Forecast Growth

LUNR has been the subject of several recent research reports. Zacks Research lowered shares of Intuitive Machines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Wall Street Zen raised shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. Roth Capital increased their target price on shares of Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, April 17th. B. Riley Financial reissued a “buy” rating on shares of Intuitive Machines in a research report on Wednesday, June 24th. Finally, Canaccord Genuity Group boosted their price target on shares of Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $31.50.

Intuitive Machines Stock Down 4.5%

The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of -18.34 and a beta of 1.78. The stock has a 50-day moving average price of $27.95 and a 200 day moving average price of $22.58.

Intuitive Machines (NASDAQ:LUNR) last issued its earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The company had revenue of $186.73 million for the quarter, compared to analysts’ expectations of $202.95 million. As a group, equities analysts forecast that Intuitive Machines, Inc. will post -0.36 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William John Liquori, Jr. sold 18,321 shares of Intuitive Machines stock in a transaction on Monday, June 8th. The shares were sold at an average price of $29.87, for a total transaction of $547,248.27. Following the completion of the sale, the director directly owned 68,875 shares of the company’s stock, valued at approximately $2,057,296.25. The trade was a 21.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 141,909 shares of the business’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $20.43, for a total transaction of $2,899,200.87. Following the transaction, the director owned 3,494,768 shares of the company’s stock, valued at approximately $71,398,110.24. The trade was a 3.90% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,066,527 shares of company stock valued at $29,503,106 in the last 90 days. Company insiders own 54.10% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds have recently added to or reduced their stakes in LUNR. International Assets Investment Management LLC purchased a new position in Intuitive Machines during the 4th quarter worth approximately $28,000. State of Wyoming acquired a new stake in shares of Intuitive Machines in the first quarter valued at approximately $39,000. GAMMA Investing LLC boosted its holdings in shares of Intuitive Machines by 41.5% in the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after acquiring an additional 781 shares during the period. Larson Financial Group LLC grew its position in shares of Intuitive Machines by 63.2% during the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after acquiring an additional 1,016 shares during the last quarter. Finally, CWM LLC grew its position in shares of Intuitive Machines by 406.4% during the fourth quarter. CWM LLC now owns 2,912 shares of the company’s stock worth $47,000 after acquiring an additional 2,337 shares during the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

About Intuitive Machines

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.