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

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

Specifically, Director Kamal Seyed Ghaffarian sold 141,909 shares of the stock in a transaction on Monday, April 20th. The stock was sold at an average price of $28.16, for a total transaction of $3,996,157.44. Following the transaction, the director owned 3,494,768 shares in the company, valued at $98,412,666.88. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LUNR shares. 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 report on Monday, March 23rd. B. Riley Financial reiterated a “buy” rating on shares of Intuitive Machines in a research note on Tuesday, February 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Intuitive Machines from $18.00 to $22.00 and gave the company a “buy” rating in a report on Friday, March 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a research report on Tuesday. Finally, Roth Mkm lifted their price target on shares of Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $21.45.

Intuitive Machines Stock Performance

The company has a market cap of $5.83 billion, a P/E ratio of -36.37 and a beta of 1.31. The stock’s fifty day moving average price is $20.03 and its two-hundred day moving average price is $16.13.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $53.37 million. On average, equities research analysts forecast that Intuitive Machines, Inc. will post -0.04 EPS for the current year.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds and other institutional investors have recently modified their holdings of the business. Nations Financial Group Inc. IA ADV lifted its position in shares of Intuitive Machines by 9.9% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 11,080 shares of the company’s stock worth $206,000 after buying an additional 1,000 shares during the last quarter. Rockefeller Capital Management L.P. boosted its stake in Intuitive Machines by 7.6% in the fourth quarter. Rockefeller Capital Management L.P. now owns 63,925 shares of the company’s stock valued at $1,038,000 after buying an additional 4,500 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in Intuitive Machines in the fourth quarter valued at about $2,612,000. Sunbelt Securities Inc. raised its stake in Intuitive Machines by 144.8% during the fourth quarter. Sunbelt Securities Inc. now owns 2,938 shares of the company’s stock worth $48,000 after acquiring an additional 1,738 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Intuitive Machines by 7.6% during the fourth quarter. Invesco Ltd. now owns 63,475 shares of the company’s stock worth $1,030,000 after acquiring an additional 4,462 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.

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.