Intuitive Machines (NASDAQ:LUNR) Trading Down 3.5% After Insider Selling

Intuitive Machines, Inc. (NASDAQ:LUNR) shares dropped 3.5% on Tuesday following insider selling activity. The stock traded as low as $5.50 and last traded at $5.52. Approximately 3,844,582 shares were traded during trading, a decline of 43% from the average daily volume of 6,705,923 shares. The stock had previously closed at $5.72.

Specifically, CEO Stephen J. Altemus sold 440,288 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $6.03, for a total transaction of $2,654,936.64. Following the transaction, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at $5,492,841.57. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Timothy Price Crain II sold 197,637 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $6.05, for a total transaction of $1,195,703.85. Following the transaction, the senior vice president now owns 362,810 shares in the company, valued at approximately $2,195,000.50. The disclosure for this sale can be found here. In related news, Director Kamal Seyed Ghaffarian sold 570,705 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $6.08, for a total value of $3,469,886.40. Following the completion of the sale, the director now directly owns 3,551,606 shares in the company, valued at $21,593,764.48. The sale was disclosed in a filing with the SEC, which is available at this link.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LUNR shares. B. Riley initiated coverage on Intuitive Machines in a research report on Friday, June 28th. They issued a “buy” rating and a $8.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research note on Monday, September 9th. Benchmark restated a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, August 14th. Finally, Roth Mkm boosted their price target on Intuitive Machines from $7.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $9.80.

Intuitive Machines Trading Down 4.9 %

The stock has a 50 day moving average price of $4.50 and a 200 day moving average price of $4.86. The company has a market capitalization of $678.00 million, a P/E ratio of 13.95 and a beta of 0.26.

Intuitive Machines (NASDAQ:LUNR) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. The business had revenue of $41.41 million for the quarter, compared to analyst estimates of $43.00 million. On average, research analysts predict that Intuitive Machines, Inc. will post 0.47 EPS for the current year.

Institutional Trading of Intuitive Machines

A number of institutional investors and hedge funds have recently bought and sold shares of LUNR. Vanguard Group Inc. grew its position in shares of Intuitive Machines by 250.0% in the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock valued at $3,758,000 after buying an additional 429,531 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Intuitive Machines in the second quarter valued at approximately $536,000. Bank of New York Mellon Corp acquired a new stake in Intuitive Machines during the 2nd quarter valued at approximately $272,000. Sanders Morris Harris LLC lifted its position in shares of Intuitive Machines by 264.9% in the 2nd quarter. Sanders Morris Harris LLC now owns 69,700 shares of the company’s stock worth $230,000 after purchasing an additional 50,600 shares during the period. Finally, XTX Topco Ltd bought a new stake in Intuitive Machines during the second quarter valued at $164,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

About Intuitive Machines

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.