Intuitive Machines (NASDAQ:LUNR) Shares Down 4.7% Following Insider Selling

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) traded down 4.7% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $20.74 and last traded at $20.95. Approximately 9,138,824 shares changed hands during trading, a decline of 33% from the average session volume of 13,634,686 shares. The stock had previously closed at $21.99.

Specifically, SVP Timothy Price Crain II sold 150,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president directly owned 351,279 shares in the company, valued at approximately $7,682,471.73. This trade represents a 29.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 Intuitive Machines stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $26.15, for a total transaction of $3,710,920.35. Following the sale, the director directly owned 3,494,768 shares in the company, valued at $91,388,183.20. This trade represents a 3.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LUNR shares. Canaccord Genuity Group increased their price objective on shares of Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. Stifel Nicolaus set a $32.00 price target on shares of Intuitive Machines in a report on Friday, May 15th. B. Riley Financial increased their price target on Intuitive Machines to $45.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $34.00 price objective on shares of Intuitive Machines in a report on Wednesday, May 20th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $31.50.

Intuitive Machines Stock Down 4.7%

The company’s 50 day moving average price is $29.90 and its 200-day moving average price is $21.92. The stock has a market cap of $4.55 billion, a P/E ratio of -23.81 and a beta of 1.68.

Intuitive Machines (NASDAQ:LUNR) last issued 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 the consensus estimate of $202.95 million. Equities research analysts anticipate that Intuitive Machines, Inc. will post -0.35 earnings per share for the current year.

Institutional Inflows and Outflows

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

Intuitive Machines Company Profile

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.