Intuitive Machines (NASDAQ:LUNR) Stock Price Down 14.5% Following Insider Selling

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price traded down 14.5% on Wednesday after an insider sold shares in the company. The company traded as low as $33.24 and last traded at $33.83. 16,350,768 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 13,578,035 shares. The stock had previously closed at $39.57.

Specifically, Director Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock in a transaction on Monday, June 1st. The stock was sold at an average price of $39.02, for a total value of $5,537,289.18. Following the completion of the sale, the director owned 3,494,768 shares of the company’s stock, valued at $136,365,847.36. The trade was a 3.90% decrease in their ownership of the stock. The sale 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.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. Wall Street Zen raised Intuitive Machines from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 24th. KeyCorp upped their price objective on Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Canaccord Genuity Group upped their price objective on Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, B. Riley Financial upped their price objective on Intuitive Machines to $45.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $31.50.

Intuitive Machines Price Performance

The business has a 50-day simple moving average of $28.73 and a 200-day simple moving average of $20.50. The firm has a market capitalization of $6.37 billion, a PE ratio of -33.36 and a beta of 1.68.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) 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 analyst estimates of $202.95 million. On average, research analysts expect that Intuitive Machines, Inc. will post -0.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of 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 last quarter. Trustees of the University of Pennsylvania bought a new position in shares of Intuitive Machines during the fourth quarter valued at approximately $52,689,000. UBS Group AG grew its stake in shares of Intuitive Machines by 22.0% during the fourth quarter. UBS Group AG now owns 3,095,383 shares of the company’s stock valued at $50,238,000 after buying an additional 557,517 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Intuitive Machines by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 2,735,161 shares of the company’s stock valued at $44,399,000 after buying an additional 61,084 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Intuitive Machines by 18.4% during the third quarter. Bank of America Corp DE now owns 2,677,305 shares of the company’s stock valued at $28,165,000 after buying an additional 415,359 shares during the last quarter. 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.