Intuitive Machines (NASDAQ:LUNR) Stock Price Down 6.8% - What's Next?

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares dropped 6.8% during mid-day trading on Monday . The company traded as low as $7.01 and last traded at $6.94. Approximately 693,845 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 12,017,262 shares. The stock had previously closed at $7.45.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on LUNR. Bank of America assumed coverage on shares of Intuitive Machines in a research note on Wednesday, February 5th. They set an "underperform" rating and a $16.00 price target for the company. Roth Capital set a $20.00 price target on Intuitive Machines in a research note on Friday, March 7th. B. Riley reissued a "buy" rating on shares of Intuitive Machines in a research note on Tuesday, March 25th. Cantor Fitzgerald lowered their target price on Intuitive Machines from $15.00 to $13.00 and set an "overweight" rating for the company in a report on Tuesday, March 25th. Finally, Benchmark reissued a "buy" rating and issued a $16.00 price target on shares of Intuitive Machines in a research report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $16.00.

Intuitive Machines Price Performance

The company's fifty day moving average price is $10.76 and its 200-day moving average price is $13.00. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -2.34 and a beta of 1.33.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.12. The firm had revenue of $54.66 million during the quarter, compared to analysts' expectations of $72.58 million. On average, sell-side analysts forecast that Intuitive Machines, Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Machines

In other news, insider Steven Vontur sold 9,266 shares of the firm's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $22.50, for a total transaction of $208,485.00. Following the sale, the insider now owns 98,656 shares of the company's stock, valued at $2,219,760. This trade represents a 8.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Peter Mcgrath sold 37,906 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $7.71, for a total transaction of $292,255.26. Following the sale, the chief financial officer now directly owns 438,992 shares in the company, valued at $3,384,628.32. This trade represents a 7.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,700 shares of company stock worth $589,489 over the last 90 days. 73.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

Several hedge funds have recently modified their holdings of the company. Quarry LP acquired a new position in Intuitive Machines in the 4th quarter worth about $44,000. Jones Financial Companies Lllp raised its stake in shares of Intuitive Machines by 751.3% during the 4th quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company's stock worth $70,000 after buying an additional 3,381 shares during the period. Park Avenue Securities LLC purchased a new position in shares of Intuitive Machines during the 1st quarter valued at approximately $81,000. Steward Partners Investment Advisory LLC lifted its holdings in Intuitive Machines by 201.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company's stock valued at $90,000 after purchasing an additional 3,300 shares in the last quarter. Finally, Ancora Advisors LLC purchased a new position in Intuitive Machines in the 4th quarter valued at about $91,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.