Intuitive Machines (NASDAQ:LUNR) Shares Down 3.9% – Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) shares fell 3.9% during trading on Thursday . The company traded as low as $7.95 and last traded at $8.04. 3,263,104 shares were traded during mid-day trading, a decline of 62% from the average session volume of 8,697,941 shares. The stock had previously closed at $8.37.

Analyst Ratings Changes

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

Intuitive Machines Price Performance

The firm has a market cap of $1.03 billion, a P/E ratio of 20.10 and a beta of 0.34. The company’s 50-day moving average is $6.33 and its two-hundred day moving average is $5.20.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $41.41 million for the quarter, compared to the consensus estimate of $43.00 million. On average, analysts expect that Intuitive Machines, Inc. will post 0.47 EPS 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 business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $3.93, for a total transaction of $292,482.39. Following the completion of the transaction, the senior vice president now owns 362,810 shares of the company’s stock, valued at approximately $1,425,843.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 1,007,928 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $8.31, for a total value of $8,375,881.68. Following the sale, the director now owns 3,494,768 shares in the company, valued at $29,041,522.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Timothy Price Crain II sold 74,423 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $3.93, for a total transaction of $292,482.39. Following the transaction, the senior vice president now owns 362,810 shares of the company’s stock, valued at $1,425,843.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,770,728 shares of company stock valued at $27,661,329. 73.68% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Machines

Several hedge funds have recently modified their holdings of LUNR. Squarepoint Ops LLC bought a new position in Intuitive Machines in the second quarter valued at about $536,000. Vanguard Group Inc. increased its stake in shares of Intuitive Machines by 250.0% in the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock valued at $3,758,000 after buying an additional 429,531 shares during the period. Wedbush Securities Inc. bought a new position in Intuitive Machines in the 2nd quarter valued at approximately $35,000. XTX Topco Ltd acquired a new stake in Intuitive Machines during the 2nd quarter worth approximately $164,000. Finally, Bank of New York Mellon Corp bought a new stake in Intuitive Machines during the 2nd quarter worth approximately $272,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

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.