Intuitive Machines (NASDAQ:LUNR) Trading Down 0.1% – Here’s What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price was down 0.1% during trading on Monday . The company traded as low as $7.43 and last traded at $7.60. Approximately 2,964,077 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 8,663,821 shares. The stock had previously closed at $7.61.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LUNR. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 price target on shares of Intuitive Machines in a report on Monday, September 30th. Roth Mkm reissued a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a research report on Wednesday, September 18th. B. Riley upped their price objective 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. Finally, Benchmark reiterated a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Five research analysts have rated the stock with a buy rating, According to 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 capitalization of $1.04 billion, a PE ratio of 20.93 and a beta of 0.34. The company’s fifty day simple moving average is $6.05 and its 200 day simple moving average is $5.15.

Intuitive Machines (NASDAQ:LUNR) last issued its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $41.41 million for the quarter, compared to the consensus estimate of $43.00 million. On average, analysts anticipate that Intuitive Machines, Inc. will post 0.47 earnings per share for the current fiscal year.

Insider Activity at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 440,288 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $6.03, for a total value of $2,654,936.64. Following the transaction, the chief executive officer now owns 910,919 shares of the company’s stock, valued at approximately $5,492,841.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Intuitive Machines news, SVP Timothy Price Crain II sold 74,423 shares of Intuitive Machines stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 362,810 shares in the company, valued at $1,425,843.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Stephen J. Altemus sold 440,288 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $6.03, for a total transaction of $2,654,936.64. Following the completion of the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at $5,492,841.57. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,770,728 shares of company stock valued at $27,661,329. Corporate insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wedbush Securities Inc. purchased a new position in shares of Intuitive Machines in the 2nd quarter worth about $35,000. Baltimore Washington Financial Advisors Inc. bought a new position in Intuitive Machines during the first quarter valued at approximately $67,000. SG Americas Securities LLC purchased a new position in shares of Intuitive Machines during the third quarter worth approximately $93,000. Creative Planning bought a new stake in shares of Intuitive Machines in the 3rd quarter worth approximately $105,000. Finally, Sender Co & Partners Inc. purchased a new stake in shares of Intuitive Machines in the 2nd quarter valued at $56,000. 72.21% of the stock is currently 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.