Intuitive Machines (NASDAQ:LUNR) Stock Price Down 3%

Intuitive Machines, Inc. (NASDAQ:LUNR) shares fell 3% on Monday . The company traded as low as $8.42 and last traded at $8.52. 3,716,983 shares changed hands during mid-day trading, a decline of 57% from the average session volume of 8,597,643 shares. The stock had previously closed at $8.78.

Wall Street Analysts Forecast Growth

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

Intuitive Machines Price Performance

The stock has a 50-day simple moving average of $5.19 and a 200 day simple moving average of $5.02. The company has a market capitalization of $1.02 billion, a PE ratio of 20.17 and a beta of 0.26.

Intuitive Machines (NASDAQ:LUNR) last posted its 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 business had revenue of $41.41 million for the quarter, compared to analyst estimates of $43.00 million. As a group, research analysts predict that Intuitive Machines, Inc. will post 0.47 EPS for the current fiscal year.

Insider Activity

In other Intuitive Machines news, SVP Timothy Price Crain II sold 74,423 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $3.93, for a total transaction of $292,482.39. Following the transaction, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $1,425,843.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Intuitive Machines news, CFO Steven Vontur sold 10,274 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $5.58, for a total transaction of $57,328.92. Following the completion of the sale, the chief financial officer now owns 117,500 shares in the company, valued at $655,650. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Timothy Price Crain II sold 74,423 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at approximately $1,425,843.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,997,755 shares of company stock worth $28,250,647. 73.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds have recently made changes to their positions in the business. Wedbush Securities Inc. acquired a new position in Intuitive Machines in the 2nd quarter valued at approximately $35,000. Sender Co & Partners Inc. bought a new position in Intuitive Machines in the 2nd quarter worth $56,000. Baltimore Washington Financial Advisors Inc. bought a new position in Intuitive Machines in the 1st quarter worth approximately $67,000. Rhumbline Advisers acquired a new position in shares of Intuitive Machines in the 2nd quarter valued at $119,000. Finally, Sanders Morris Harris LLC bought a new stake in shares of Intuitive Machines in the 1st quarter valued at approximately $119,000. Institutional investors and hedge funds 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.