Intuitive Machines (NASDAQ:LUNR) Trading Down 3.8% Following Insider Selling

Intuitive Machines, Inc. (NASDAQ:LUNR) shares were down 3.8% on Monday following insider selling activity. The stock traded as low as $20.54 and last traded at $21.99. Approximately 12,426,328 shares traded hands during mid-day trading, a decline of 9% from the average session volume of 13,691,643 shares. The stock had previously closed at $22.85.

Specifically, SVP Timothy Price Crain II sold 150,000 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $21.87, for a total value of $3,280,500.00. Following the completion of the transaction, the senior vice president owned 351,279 shares of the company’s stock, valued at approximately $7,682,471.73. This trade represents a 29.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 sale, the director owned 3,494,768 shares in the company, valued at approximately $91,388,183.20. This trade represents a 3.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

LUNR has been the subject of a number of recent research reports. 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. Wall Street Zen upgraded Intuitive Machines from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. Stifel Nicolaus set a $32.00 price objective on shares of Intuitive Machines in a research note on Friday, May 15th. Roth Mkm boosted their price objective 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. Finally, Zacks Research downgraded shares of Intuitive Machines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Intuitive Machines currently has an average rating of “Hold” and a consensus price target of $31.50.

Intuitive Machines Stock Down 3.8%

The firm has a market cap of $4.77 billion, a PE ratio of -24.99 and a beta of 1.68. The business has a 50 day simple moving average of $29.90 and a two-hundred day simple moving average of $21.83.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The firm had revenue of $186.73 million for the quarter, compared to analysts’ expectations of $202.95 million. Equities analysts forecast that Intuitive Machines, Inc. will post -0.35 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. lifted its position in shares of Intuitive Machines by 627.6% in the 3rd quarter. Citigroup Inc. now owns 1,048,106 shares of the company’s stock worth $11,026,000 after purchasing an additional 904,065 shares during the period. Vanguard Group Inc. increased its holdings in Intuitive Machines by 13.3% during the third quarter. Vanguard Group Inc. now owns 6,090,059 shares of the company’s stock valued at $64,067,000 after buying an additional 717,256 shares during the period. Jefferies Financial Group Inc. bought a new position in Intuitive Machines in the fourth quarter worth approximately $717,000. ARK Investment Management LLC raised its stake in Intuitive Machines by 78.9% in the third quarter. ARK Investment Management LLC now owns 2,073,233 shares of the company’s stock worth $21,810,000 after buying an additional 914,458 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Intuitive Machines during the third quarter worth $4,696,000. Institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

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.