Intuitive Machines (NASDAQ:LUNR) Stock Price Down 5.6% Following Insider Selling

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price traded down 5.6% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $20.17 and last traded at $20.20. Approximately 15,357,382 shares were traded during mid-day trading, an increase of 13% from the average daily volume of 13,625,455 shares. The stock had previously closed at $21.39.

Specifically, Director Kamal Seyed Ghaffarian sold 141,909 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $20.43, for a total transaction of $2,899,200.87. Following the sale, the director owned 3,494,768 shares in the company, valued at approximately $71,398,110.24. The trade was a 3.90% decrease in their ownership of the stock. 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.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on LUNR shares. Stifel Nicolaus set a $32.00 price objective on shares of Intuitive Machines in a research report on Friday, May 15th. Wall Street Zen raised shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $34.00 price target on shares of Intuitive Machines in a research note on Wednesday, May 20th. Canaccord Genuity Group raised their price target on shares of Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a report on Friday, May 15th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Intuitive Machines currently has an average rating of “Hold” and an average price target of $31.50.

Intuitive Machines Price Performance

The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of -22.25 and a beta of 1.78. The business has a fifty day moving average price of $29.00 and a two-hundred day moving average price of $22.40.

Intuitive Machines (NASDAQ:LUNR) last released its 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 company had revenue of $186.73 million during the quarter, compared to analysts’ expectations of $202.95 million. On average, research analysts predict that Intuitive Machines, Inc. will post -0.36 earnings per share for the current year.

Institutional Trading of Intuitive Machines

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE boosted its holdings in shares of Intuitive Machines by 188.9% in the 1st quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock valued at $34,948,000 after acquiring an additional 1,231,188 shares during the last quarter. JTC Employer Solutions Trustee Ltd purchased a new position in shares of Intuitive Machines during the first quarter worth $59,000. Janus Henderson Group PLC lifted its position in Intuitive Machines by 38.9% during the first quarter. Janus Henderson Group PLC now owns 51,100 shares of the company’s stock valued at $947,000 after purchasing an additional 14,300 shares during the period. California State Teachers Retirement System lifted its position in Intuitive Machines by 28.2% during the first quarter. California State Teachers Retirement System now owns 126,442 shares of the company’s stock valued at $2,347,000 after purchasing an additional 27,793 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Intuitive Machines by 2.4% during the first quarter. The Manufacturers Life Insurance Company now owns 53,679 shares of the company’s stock valued at $996,000 after purchasing an additional 1,235 shares during the period. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.