Intuitive Machines (NASDAQ:LUNR) Shares Down 7.6% Following Insider Selling

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) traded down 7.6% during mid-day trading on Tuesday after an insider sold shares in the company. The stock traded as low as $25.67 and last traded at $27.47. 13,125,323 shares were traded during trading, a decline of 3% from the average session volume of 13,528,168 shares. The stock had previously closed at $29.74.

Specifically, Director William John Liquori, Jr. sold 18,321 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $29.87, for a total transaction of $547,248.27. Following the completion of the transaction, the director directly owned 68,875 shares of the company’s stock, valued at approximately $2,057,296.25. The trade was a 21.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 141,909 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $39.02, for a total transaction of $5,537,289.18. Following the completion of the sale, the director directly owned 3,494,768 shares in the company, valued at approximately $136,365,847.36. This trade represents a 3.90% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LUNR. B. Riley Financial raised their price objective on shares of Intuitive Machines to $45.00 and gave the company a “buy” rating in a report on Friday, May 15th. KeyCorp raised their price target on Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Cantor Fitzgerald lifted their price target on Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Canaccord Genuity Group increased their price objective on Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a report on Friday, May 15th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Intuitive Machines has a consensus rating of “Hold” and a consensus price target of $31.50.

Intuitive Machines Stock Down 7.6%

The stock has a fifty day moving average price of $29.11 and a 200-day moving average price of $20.79. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of -31.22 and a beta of 1.68.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The company had revenue of $186.73 million for the quarter, compared to analysts’ expectations of $202.95 million. As a group, research analysts expect that Intuitive Machines, Inc. will post -0.35 earnings per share for the current year.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors have recently added to or reduced their stakes in LUNR. Invesco Ltd. raised its stake in shares of Intuitive Machines by 19.7% during the 1st quarter. Invesco Ltd. now owns 16,092 shares of the company’s stock worth $120,000 after buying an additional 2,643 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Intuitive Machines by 43.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,715 shares of the company’s stock worth $184,000 after acquiring an additional 7,528 shares during the period. Caxton Associates LLP purchased a new position in Intuitive Machines in the first quarter worth $139,000. Creative Planning raised its position in Intuitive Machines by 29.3% in the second quarter. Creative Planning now owns 30,407 shares of the company’s stock worth $331,000 after acquiring an additional 6,886 shares in the last quarter. Finally, Cetera Investment Advisers lifted its holdings in Intuitive Machines by 15.3% in the second quarter. Cetera Investment Advisers now owns 18,835 shares of the company’s stock valued at $205,000 after acquiring an additional 2,506 shares during the period. Hedge funds and other 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.