Intuitive Machines (NASDAQ:LUNR) Trading Down 6.2% on Insider Selling

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) traded down 6.2% on Wednesday after an insider sold shares in the company. The company traded as low as $15.11 and last traded at $15.24. Approximately 7,172,918 shares traded hands during trading, a decline of 41% from the average session volume of 12,152,166 shares. The stock had previously closed at $16.24.

Specifically, SVP Timothy Crain, II sold 50,000 shares of the business’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $15.05, for a total value of $752,500.00. Following the transaction, the senior vice president directly owned 351,279 shares of the company’s stock, valued at approximately $5,286,748.95. The trade was a 12.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy Crain, II sold 100,000 shares of the firm’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $13.98, for a total transaction of $1,398,000.00. Following the sale, the senior vice president owned 351,279 shares of the company’s stock, valued at $4,910,880.42. This trade represents a 22.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

LUNR has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a research note on Friday, July 17th. Bank of America raised their price target on shares of Intuitive Machines from $11.00 to $13.00 and gave the stock an “underperform” rating in a research note on Monday, August 31st. Canaccord Genuity Group lowered their price target on shares of Intuitive Machines from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, August 18th. Zacks Research upgraded Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Intuitive Machines in a report on Monday. Seven research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Intuitive Machines has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Intuitive Machines Stock Down 6.2%

The stock has a market cap of $3.49 billion, a P/E ratio of -16.04 and a beta of 1.85. The business’s 50-day simple moving average is $15.15 and its two-hundred day simple moving average is $21.52.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The firm had revenue of $206.17 million for the quarter, compared to the consensus estimate of $212.32 million. Analysts anticipate that Intuitive Machines, Inc. will post -0.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors have recently made changes to their positions in the stock. Calamos Advisors LLC bought a new stake in shares of Intuitive Machines during the first quarter valued at about $2,984,000. Jefferies Financial Group Inc. bought a new position in shares of Intuitive Machines in the fourth quarter valued at approximately $717,000. Fifth Third Bancorp bought a new position in shares of Intuitive Machines in the first quarter valued at approximately $4,314,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Intuitive Machines by 202.1% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 461,564 shares of the company’s stock valued at $8,567,000 after acquiring an additional 308,755 shares in the last quarter. Finally, Raiffeisen Bank International AG bought a new stake in Intuitive Machines during the 2nd quarter worth approximately $3,565,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and delivers lunar missions, spacecraft, and related services for government and commercial customers, with a focus on supporting a sustainable presence on the Moon.

Its activities include lunar payload delivery, spacecraft and lander development, lunar communications and navigation services, and the collection and transmission of data from the lunar surface. Intuitive Machines’ Nova-C lunar lander is designed to transport scientific instruments, technology demonstrations, and other payloads to the Moon.

Founded in 2013 by Stephen Altemus, who serves as president and chief executive officer, Intuitive Machines has supported NASA’s Commercial Lunar Payload Services program.