Intuitive Machines (NASDAQ:LUNR) Announces Quarterly Earnings Results

Intuitive Machines (NASDAQ:LUNR) released its quarterly earnings results on Tuesday. The company reported $0.04 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.12, Zacks reports. The business had revenue of $54.66 million for the quarter, compared to the consensus estimate of $72.58 million.

Intuitive Machines Trading Down 4.5 %

LUNR stock traded down $0.41 on Wednesday, hitting $8.79. 11,581,656 shares of the company’s stock traded hands, compared to its average volume of 11,742,708. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -2.99 and a beta of 1.01. Intuitive Machines has a 1-year low of $3.15 and a 1-year high of $24.95. The stock has a fifty day moving average of $15.91 and a 200-day moving average of $12.96.

Insiders Place Their Bets

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the transaction, the director now owns 3,494,768 shares in the company, valued at $64,128,992.80. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Steven Vontur sold 4,528 shares of Intuitive Machines stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total value of $88,748.80. Following the completion of the transaction, the insider now directly owns 104,272 shares in the company, valued at $2,043,731.20. This represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 392,713 shares of company stock worth $7,250,066. 73.68% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LUNR. Benchmark reiterated a “buy” rating and set a $16.00 price target on shares of Intuitive Machines in a research report on Tuesday. Canaccord Genuity Group lowered their target price on shares of Intuitive Machines from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intuitive Machines in a research note on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price target for the company. Roth Mkm lowered their price objective on shares of Intuitive Machines from $20.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. Finally, Bank of America initiated coverage on Intuitive Machines in a report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.00.

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.