Insider Selling: Intuitive Machines (NASDAQ:LUNR) CEO Sells $8,595,770.18 in Stock

Intuitive Machines, Inc. (NASDAQ:LUNR) CEO Stephen Altemus sold 428,503 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $20.06, for a total value of $8,595,770.18. Following the completion of the transaction, the chief executive officer directly owned 1,026,402 shares of the company’s stock, valued at approximately $20,589,624.12. This trade represents a 29.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Intuitive Machines Stock Up 5.2%

Intuitive Machines stock opened at $20.61 on Friday. Intuitive Machines, Inc. has a 52 week low of $6.14 and a 52 week high of $24.95. The firm has a market cap of $3.71 billion, a price-to-earnings ratio of -8.34 and a beta of 1.37. The business’s 50-day moving average price is $14.13 and its 200 day moving average price is $11.81.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors have recently bought and sold shares of LUNR. Golden State Wealth Management LLC raised its holdings in shares of Intuitive Machines by 180.0% during the second quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company’s stock valued at $30,000 after acquiring an additional 1,800 shares during the last quarter. GAMMA Investing LLC increased its position 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 worth $43,000 after purchasing an additional 781 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Intuitive Machines by 35.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company’s stock valued at $47,000 after purchasing an additional 1,127 shares during the last quarter. Quarry LP lifted its holdings in Intuitive Machines by 151.4% in the 3rd quarter. Quarry LP now owns 6,457 shares of the company’s stock valued at $68,000 after purchasing an additional 3,889 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new stake in Intuitive Machines during the 3rd quarter worth $94,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LUNR has been the topic of a number of recent analyst reports. Bank of America increased their price target on shares of Intuitive Machines from $8.50 to $9.50 and gave the stock an “underperform” rating in a report on Wednesday, November 19th. Cantor Fitzgerald restated an “overweight” rating on shares of Intuitive Machines in a research report on Wednesday, December 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a report on Wednesday, October 8th. B. Riley increased their price target on Intuitive Machines from $14.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Finally, Deutsche Bank Aktiengesellschaft set a $18.00 price objective on Intuitive Machines and gave the company a “buy” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $16.73.

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.