Intuitive Machines (NASDAQ:LUNR) Shares Down 3.8% on Insider Selling

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price dropped 3.8% on Wednesday following insider selling activity. The company traded as low as $6.70 and last traded at $7.11. Approximately 5,656,606 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 8,674,517 shares. The stock had previously closed at $7.39.

Specifically, Director Kamal Seyed Ghaffarian sold 125,991 shares of Intuitive Machines stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $7.43, for a total value of $936,113.13. Following the completion of the sale, the director now directly owns 3,494,768 shares in the company, valued at approximately $25,966,126.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analyst Weigh In

LUNR has been the topic of several research reports. Roth Mkm reissued a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. Benchmark reissued a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. B. Riley increased their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 target price on shares of Intuitive Machines in a report on Monday, September 30th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Intuitive Machines presently has a consensus rating of “Buy” and a consensus target price of $10.60.

Intuitive Machines Price Performance

The stock’s fifty day moving average is $5.71 and its 200 day moving average is $5.13.

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

Institutional Trading of Intuitive Machines

Several institutional investors have recently added to or reduced their stakes in the company. Wedbush Securities Inc. bought a new stake in Intuitive Machines in the second quarter worth about $35,000. Baltimore Washington Financial Advisors Inc. bought a new stake in shares of Intuitive Machines during the first quarter valued at approximately $67,000. SG Americas Securities LLC bought a new stake in shares of Intuitive Machines during the third quarter valued at approximately $93,000. Sender Co & Partners Inc. purchased a new position in Intuitive Machines during the second quarter valued at approximately $56,000. Finally, Sanders Morris Harris LLC purchased a new position in Intuitive Machines in the first quarter worth $119,000. Institutional investors own 72.21% of the company’s stock.

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.