Insider Selling: Intuitive Machines (NASDAQ:LUNR) Director Sells 1,698 Shares

Intuitive Machines, Inc. (NASDAQ:LUNR) Director Kamal Ghaffarian sold 1,698 shares of the company’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $16.00, for a total transaction of $27,168.00. Following the completion of the sale, the director directly owned 3,494,768 shares in the company, valued at approximately $55,916,288. This represents a 0.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kamal Seyed Ghaffarian also recently made the following trade(s):

• On Tuesday, September 8th, Kamal Ghaffarian sold 94,606 shares of Intuitive Machines stock. The stock was sold at an average price of $15.40, for a total transaction of $1,456,932.40.
• On Monday, August 24th, Kamal Ghaffarian sold 141,909 shares of Intuitive Machines stock. The shares were sold at an average price of $16.87, for a total transaction of $2,394,004.83.
• On Monday, August 10th, Kamal Ghaffarian sold 267,448 shares of Intuitive Machines stock. The shares were sold at an average price of $16.17, for a total transaction of $4,324,634.16.
• On Monday, July 27th, Kamal Ghaffarian sold 47,303 shares of Intuitive Machines stock. The shares were sold at an average price of $13.20, for a total transaction of $624,399.60.
• On Monday, June 29th, Kamal Ghaffarian sold 141,909 shares of Intuitive Machines stock. The stock was sold at an average price of $20.43, for a total value of $2,899,200.87.
• On Monday, June 15th, Kamal Ghaffarian sold 141,909 shares of Intuitive Machines stock. The stock was sold at an average price of $26.15, for a total value of $3,710,920.35.

Intuitive Machines Stock Performance

Shares of NASDAQ:LUNR traded down $0.32 during midday trading on Thursday, reaching $14.62. The company’s stock had a trading volume of 6,789,785 shares, compared to its average volume of 12,359,824. Intuitive Machines, Inc. has a fifty-two week low of $7.78 and a fifty-two week high of $46.75. The firm has a 50 day moving average price of $15.64 and a two-hundred day moving average price of $21.71. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of -15.39 and a beta of 1.85.

Intuitive Machines (NASDAQ:LUNR) last released its earnings results on Thursday, August 13th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The company had revenue of $206.17 million during the quarter, compared to analyst estimates of $212.32 million. As a group, research analysts anticipate that Intuitive Machines, Inc. will post -0.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Cantor Fitzgerald reduced their price objective on shares of Intuitive Machines from $43.00 to $32.00 and set an “overweight” rating for the company in a research report on Friday, August 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $34.00 target price on shares of Intuitive Machines in a research note on Wednesday, May 20th. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a report on Friday, July 17th. Canaccord Genuity Group decreased their price target on shares of Intuitive Machines from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, August 18th. Finally, B. Riley Financial dropped their price objective on shares of Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $30.50.

Institutional Investors Weigh In On Intuitive Machines

A number of hedge funds have recently added to or reduced their stakes in the company. Nykredit A S acquired a new position in shares of Intuitive Machines during the second quarter worth approximately $25,000. International Assets Investment Management LLC acquired a new stake in Intuitive Machines in the 4th quarter valued at $28,000. State of Wyoming acquired a new stake in Intuitive Machines in the 1st quarter valued at $39,000. Larson Financial Group LLC grew its position in Intuitive Machines by 63.2% in the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock valued at $43,000 after purchasing an additional 1,016 shares during the period. Finally, Sunbelt Securities Inc. increased its stake in Intuitive Machines by 144.8% during the 4th quarter. Sunbelt Securities Inc. now owns 2,938 shares of the company’s stock valued at $48,000 after purchasing an additional 1,738 shares in the last quarter. Institutional investors and hedge funds 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.