Short Interest in Intuitive Machines, Inc. (NASDAQ:LUNR) Decreases By 19.4%

Intuitive Machines, Inc. (NASDAQ:LUNR) was the recipient of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 4,600,000 shares, a decrease of 19.4% from the May 31st total of 5,710,000 shares. Based on an average daily trading volume, of 2,990,000 shares, the days-to-cover ratio is currently 1.5 days. Currently, 10.2% of the company’s shares are short sold.

Intuitive Machines Price Performance

NASDAQ LUNR opened at $3.30 on Friday. The firm has a market cap of $411.28 million, a P/E ratio of 8.05 and a beta of 0.32. The stock’s 50-day moving average is $4.81 and its 200-day moving average is $4.63. Intuitive Machines has a one year low of $2.09 and a one year high of $13.25.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings results on Tuesday, May 14th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.07). The business had revenue of $73.07 million for the quarter, compared to analyst estimates of $45.00 million. Intuitive Machines had a negative return on equity of 2.04% and a negative net margin of 19.48%. During the same period in the prior year, the business earned ($0.24) EPS. Equities analysts anticipate that Intuitive Machines will post -0.05 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Intuitive Machines by 250.0% during the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after buying an additional 429,531 shares in the last quarter. Nomura Holdings Inc. bought a new position in Intuitive Machines in the third quarter valued at approximately $1,369,000. Inscription Capital LLC bought a new position in Intuitive Machines in the first quarter valued at approximately $304,000. Tealwood Asset Management Inc. bought a new position in Intuitive Machines in the first quarter valued at approximately $131,000. Finally, Deuterium Capital Management LLC bought a new position in Intuitive Machines in the first quarter valued at approximately $125,000. 72.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Roth Mkm cut their target price on Intuitive Machines from $15.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Canaccord Genuity Group cut their target price on Intuitive Machines from $14.00 to $11.00 and set a “buy” rating on the stock in a research note on Wednesday, May 15th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Monday, June 17th. Benchmark reissued a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Thursday, April 4th. Finally, B. Riley initiated coverage on Intuitive Machines in a research note on Friday. They issued a “buy” rating and a $8.00 target price on the stock. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $9.80.

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.