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

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price fell 10% on Thursday after an insider sold shares in the company. The company traded as low as $27.12 and last traded at $26.9460. 7,599,236 shares changed hands during 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 stock was sold at an average price of $28.16, for a total value of $3,996,157.44. Following the sale, the director 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

Several research analysts recently commented on LUNR shares. B. Riley Financial restated a “buy” rating on shares of Intuitive Machines in a research note on Tuesday, February 17th. Roth Mkm upped their price objective on Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday. Canaccord Genuity Group raised their target price on shares of Intuitive Machines from $22.50 to $24.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Intuitive Machines from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $21.45.

Intuitive Machines Stock Performance

The firm has a fifty day simple moving average of $20.03 and a 200-day simple moving average of $16.13. The firm has a market cap of $5.83 billion, a price-to-earnings ratio of -36.37 and a beta of 1.31.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings data on Thursday, March 19th. The company reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.05) by $0.01. The company had revenue of $44.79 million during the quarter, compared to analyst estimates of $53.37 million. Analysts expect that Intuitive Machines, Inc. will post -0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of LUNR. International Assets Investment Management LLC bought a new stake in shares of Intuitive Machines during the fourth quarter worth approximately $28,000. GAMMA Investing LLC increased its stake in shares of Intuitive Machines by 41.5% during the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after purchasing an additional 781 shares during the period. Larson Financial Group LLC increased its stake in shares of Intuitive Machines by 63.2% during the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after purchasing an additional 1,016 shares during the period. CWM LLC lifted its holdings in Intuitive Machines by 406.4% during the 4th quarter. CWM LLC now owns 2,912 shares of the company’s stock worth $47,000 after purchasing an additional 2,337 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in Intuitive Machines by 144.8% during the 4th quarter. Sunbelt Securities Inc. now owns 2,938 shares of the company’s stock worth $48,000 after purchasing an additional 1,738 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

About Intuitive Machines

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.