Intuitive Machines (NASDAQ:LUNR) Shares Down 5.6% on Insider Selling

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) were down 5.6% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $20.17 and last traded at $20.20. Approximately 15,357,382 shares were traded during trading, an increase of 13% from the average session volume of 13,625,455 shares. The stock had previously closed at $21.39.

Specifically, Director Kamal Seyed Ghaffarian sold 141,909 shares of the stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $20.43, for a total transaction of $2,899,200.87. Following the sale, the director directly owned 3,494,768 shares of the company’s stock, valued at $71,398,110.24. This represents a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LUNR. Canaccord Genuity Group upped their price target on Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Roth Mkm raised their price objective on Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a report on Friday, April 17th. KeyCorp boosted their price objective on Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Wednesday, April 29th. Stifel Nicolaus set a $32.00 target price on Intuitive Machines in a research note on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $34.00 target price on shares of Intuitive Machines in a research report on Wednesday, May 20th. Eight analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $31.50.

Intuitive Machines Stock Performance

The stock has a market capitalization of $4.25 billion, a PE ratio of -22.25 and a beta of 1.78. The stock’s 50 day moving average is $29.00 and its two-hundred day moving average is $22.40.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The business had revenue of $186.73 million during the quarter, compared to the consensus estimate of $202.95 million. Equities research analysts expect that Intuitive Machines, Inc. will post -0.36 EPS for the current fiscal year.

Institutional Trading of Intuitive Machines

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Intuitive Machines by 13.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,090,059 shares of the company’s stock valued at $64,067,000 after purchasing an additional 717,256 shares in the last quarter. Trustees of the University of Pennsylvania purchased a new stake in shares of Intuitive Machines during the fourth quarter worth $52,689,000. UBS Group AG raised its position in shares of Intuitive Machines by 22.0% in the fourth quarter. UBS Group AG now owns 3,095,383 shares of the company’s stock valued at $50,238,000 after buying an additional 557,517 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Intuitive Machines by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 2,735,161 shares of the company’s stock valued at $44,399,000 after buying an additional 61,084 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Intuitive Machines by 18.4% in the third quarter. Bank of America Corp DE now owns 2,677,305 shares of the company’s stock worth $28,165,000 after buying an additional 415,359 shares in the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

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.