Intuitive Machines (NASDAQ:LUNR) Shares Down 3.6%

Intuitive Machines, Inc. (NASDAQ:LUNR) shares traded down 3.6% on Thursday . The stock traded as low as $5.03 and last traded at $5.09. 1,889,209 shares traded hands during trading, a decline of 71% from the average session volume of 6,559,485 shares. The stock had previously closed at $5.28.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Roth Mkm raised their price target on shares of Intuitive Machines from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, August 30th. B. Riley started coverage on Intuitive Machines in a research note on Friday, June 28th. They set a “buy” rating and a $8.00 target price for the company. Canaccord Genuity Group decreased their price objective on Intuitive Machines from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 target price on shares of Intuitive Machines in a research note on Tuesday. Finally, Benchmark reiterated a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, August 14th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $9.80.

Intuitive Machines Price Performance

The firm has a market cap of $628.15 million, a price-to-earnings ratio of 12.29 and a beta of 0.26. The stock has a 50-day moving average price of $4.25 and a 200 day moving average price of $4.99.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $43.00 million. As a group, equities research analysts predict that Intuitive Machines, Inc. will post 0.47 earnings per share for the current year.

Insider Activity at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 50,000 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $3.36, for a total value of $168,000.00. Following the completion of the sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at $1,219,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Intuitive Machines news, CEO Stephen J. Altemus sold 203,018 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $4.53, for a total transaction of $919,671.54. Following the completion of the transaction, the chief executive officer now owns 910,919 shares in the company, valued at approximately $4,126,463.07. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Timothy Price Crain II sold 50,000 shares of Intuitive Machines stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $3.36, for a total transaction of $168,000.00. Following the completion of the sale, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $1,219,041.60. The disclosure for this sale can be found here. Insiders sold a total of 608,250 shares of company stock worth $2,516,117 in the last 90 days. 73.68% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted 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 in the last quarter. Sanders Morris Harris LLC purchased a new stake in shares of Intuitive Machines during the 1st quarter worth $119,000. Inscription Capital LLC acquired a new position in shares of Intuitive Machines during the 1st quarter worth $304,000. Tealwood Asset Management Inc. purchased a new position in shares of Intuitive Machines in the 1st quarter valued at about $131,000. Finally, Deuterium Capital Management LLC acquired a new stake in shares of Intuitive Machines in the first quarter valued at about $125,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

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.