Intuitive Machines (NASDAQ:LUNR) Stock Price Down 3.1% on Insider Selling

Intuitive Machines, Inc. (NASDAQ:LUNR) dropped 3.1% during mid-day trading on Thursday following insider selling activity. The company traded as low as $19.09 and last traded at $19.58. 9,142,693 shares traded hands during mid-day trading, a decline of 33% from the average session volume of 13,590,553 shares. The stock had previously closed at $20.20.

Specifically, Director Kamal Seyed Ghaffarian sold 141,909 shares of the stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $20.43, for a total value of $2,899,200.87. Following the sale, the director directly owned 3,494,768 shares in the company, valued at $71,398,110.24. This represents a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Ratings Changes

Several brokerages recently issued reports on LUNR. Roth Mkm lifted their price objective on Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Cantor Fitzgerald increased their target price on Intuitive Machines from $26.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, May 19th. Zacks Research downgraded Intuitive Machines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. B. Riley Financial reissued a “buy” rating on shares of Intuitive Machines in a report on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $34.00 price objective on shares of Intuitive Machines in a research report on Wednesday, May 20th. Eight research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $31.50.

Intuitive Machines Trading Down 3.1%

The company’s 50 day simple moving average is $29.16 and its 200 day simple moving average is $22.34. The stock has a market capitalization of $4.25 billion, a PE ratio of -22.25 and a beta of 1.78.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates 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. As a group, analysts predict that Intuitive Machines, Inc. will post -0.36 EPS for the current year.

Hedge Funds Weigh In On Intuitive Machines

Several large investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its holdings in Intuitive Machines by 19.7% in the 1st quarter. Invesco Ltd. now owns 16,092 shares of the company’s stock valued at $120,000 after buying an additional 2,643 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Intuitive Machines by 43.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,715 shares of the company’s stock worth $184,000 after acquiring an additional 7,528 shares during the period. Caxton Associates LLP acquired a new stake in shares of Intuitive Machines in the first quarter worth approximately $139,000. Creative Planning boosted its position in shares of Intuitive Machines by 29.3% in the second quarter. Creative Planning now owns 30,407 shares of the company’s stock worth $331,000 after acquiring an additional 6,886 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in Intuitive Machines by 15.3% in the second quarter. Cetera Investment Advisers now owns 18,835 shares of the company’s stock valued at $205,000 after purchasing an additional 2,506 shares during the period. 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.