Intuitive Machines (NASDAQ:LUNR) Shares Down 10% Following Insider Selling

Intuitive Machines, Inc. (NASDAQ:LUNR) traded down 10% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $27.12 and last traded at $26.9460. 7,599,236 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 12,893,455 shares. The stock had previously closed at $29.94.

Specifically, Director Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $28.16, for a total value of $3,996,157.44. Following the completion of the transaction, the director directly owned 3,494,768 shares of the company’s stock, valued at approximately $98,412,666.88. 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 Ratings Changes

Several research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday. KeyCorp lifted their price target on shares of Intuitive Machines from $20.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Cantor Fitzgerald lifted their price target on shares of Intuitive Machines from $16.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Stifel Nicolaus boosted their target price on shares of Intuitive Machines from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, March 23rd. Finally, B. Riley Financial reissued a “buy” rating on shares of Intuitive Machines in a research note on Tuesday, February 17th. Eight investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $21.45.

Intuitive Machines Stock Performance

The business’s 50 day simple moving average is $20.27 and its 200-day simple moving average is $16.21. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of -37.24 and a beta of 1.31.

Intuitive Machines (NASDAQ:LUNR) last posted its earnings results on Thursday, March 19th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $44.79 million for the quarter, compared to analyst estimates of $53.37 million. As a group, sell-side analysts expect that Intuitive Machines, Inc. will post -0.04 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in shares of Intuitive Machines by 19.7% in the first quarter. Invesco Ltd. now owns 16,092 shares of the company’s stock valued at $120,000 after acquiring an additional 2,643 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Intuitive Machines by 43.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,715 shares of the company’s stock valued at $184,000 after acquiring an additional 7,528 shares during the period. Caxton Associates LLP bought a new stake in Intuitive Machines during the first quarter worth approximately $139,000. Creative Planning raised its holdings in Intuitive Machines by 29.3% during the second quarter. Creative Planning now owns 30,407 shares of the company’s stock worth $331,000 after purchasing an additional 6,886 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in Intuitive Machines by 15.3% in the second quarter. Cetera Investment Advisers now owns 18,835 shares of the company’s stock worth $205,000 after purchasing an additional 2,506 shares during the period. 72.21% of the stock is 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.