Intuitive Machines (NASDAQ:LUNR) Trading Down 2.7% on Insider Selling

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price traded down 2.7% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $22.64 and last traded at $22.72. 12,050,275 shares changed hands during trading, a decline of 12% from the average session volume of 13,657,432 shares. The stock had previously closed at $23.36.

Specifically, Director Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $26.15, for a total value of $3,710,920.35. Following the completion of the transaction, the director directly owned 3,494,768 shares of the company’s stock, valued at approximately $91,388,183.20. The trade was a 3.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on LUNR shares. Stifel Nicolaus set a $32.00 price objective on shares of Intuitive Machines in a research note on Friday, May 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. B. Riley Financial upped their target price on Intuitive Machines to $45.00 and gave the company a “buy” rating in a report on Friday, May 15th. Roth Mkm increased their price target on Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Finally, KeyCorp raised their price target on Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Eight research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $31.50.

Intuitive Machines Stock Performance

The firm has a market cap of $4.96 billion, a price-to-earnings ratio of -25.97 and a beta of 1.68. The stock’s fifty day moving average is $29.91 and its two-hundred day moving average is $21.73.

Intuitive Machines (NASDAQ:LUNR) last posted its earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The business had revenue of $186.73 million for the quarter, compared to analysts’ expectations of $202.95 million. Sell-side analysts predict that Intuitive Machines, Inc. will post -0.35 earnings per share for the current year.

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Trustees of the University of Pennsylvania bought a new position in Intuitive Machines in the 4th quarter worth approximately $52,689,000. First Trust Advisors LP raised its stake in Intuitive Machines by 3,582.9% during the 3rd quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock valued at $25,809,000 after acquiring an additional 2,386,688 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Intuitive Machines during the 1st quarter worth $35,895,000. Jump Financial LLC grew its stake in shares of Intuitive Machines by 5,262.9% in the third quarter. Jump Financial LLC now owns 1,339,872 shares of the company’s stock worth $14,095,000 after purchasing an additional 1,314,888 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Intuitive Machines by 188.9% in the first quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock worth $34,948,000 after purchasing an additional 1,231,188 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Machines Company Profile

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.