Intuitive Machines (NASDAQ:LUNR) Shares Down 2.7% Following Insider Selling

by · The Cerbat Gem

Intuitive Machines, Inc. (NASDAQ:LUNR – Get Free Report)’s share price was down 2.7% during trading on Wednesday after an insider sold shares in the company. The company traded as low as $22.64 and last traded at $22.72. Approximately 12,050,275 shares were traded during trading, a decline of 12% from the average daily volume of 13,657,432 shares. The stock had previously closed at $23.36.

Specifically, Director Kamal Seyed Ghaffarian sold 141,909 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at approximately $91,388,183.20. This represents a 3.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus set a $32.00 price target on shares of Intuitive Machines in a research note on Friday, May 15th. Cantor Fitzgerald increased their price objective on Intuitive Machines from $26.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research report on Tuesday, April 21st. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $34.00 target price on shares of Intuitive Machines in a research report on Wednesday, May 20th. Finally, B. Riley Financial lifted their target price on Intuitive Machines to $45.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Eight investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Intuitive Machines has an average rating of “Hold” and a consensus target price of $31.50.

Read Our Latest Stock Report on Intuitive Machines

Intuitive Machines Stock Performance

The stock has a fifty day simple moving average of $29.91 and a two-hundred day simple moving average of $21.73. The stock has a market capitalization of $4.96 billion, a price-to-earnings ratio of -25.97 and a beta of 1.68.

Intuitive Machines (NASDAQ:LUNR – Get Free Report) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share (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 analysts’ expectations of $202.95 million. Research analysts forecast that Intuitive Machines, Inc. will post -0.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. International Assets Investment Management LLC acquired a new stake in Intuitive Machines in the fourth quarter worth $28,000. State of Wyoming acquired a new position in shares of Intuitive Machines during the first quarter valued at about $39,000. GAMMA Investing LLC raised its holdings 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 valued at $43,000 after purchasing an additional 781 shares during the period. Larson Financial Group LLC boosted its position in shares of Intuitive Machines by 63.2% during the 4th 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 in the last quarter. Finally, CWM LLC boosted its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

Intuitive Machines Company Profile

(Get Free Report)

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.

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