Timothy Price Crain II Sells 100,000 Shares of Intuitive Machines (NASDAQ:LUNR) Stock

Intuitive Machines, Inc. (NASDAQ:LUNR) SVP Timothy Crain, II sold 100,000 shares of the business’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $13.98, for a total transaction of $1,398,000.00. Following the completion of the sale, the senior vice president owned 351,279 shares in the company, valued at approximately $4,910,880.42. This trade represents a 22.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Timothy Price Crain II also recently made the following trade(s):

• On Monday, September 21st, Timothy Crain, II sold 50,000 shares of Intuitive Machines stock. The stock was sold at an average price of $15.05, for a total transaction of $752,500.00.

Intuitive Machines Trading Up 3.3%

Shares of NASDAQ LUNR traded up $0.52 during midday trading on Tuesday, reaching $16.24. The company’s stock had a trading volume of 8,317,020 shares, compared to its average volume of 12,179,369. Intuitive Machines, Inc. has a one year low of $7.78 and a one year high of $46.75. The company has a market cap of $3.72 billion, a price-to-earnings ratio of -17.09 and a beta of 1.85. The company has a 50 day moving average price of $15.12 and a 200 day moving average price of $21.53.

Intuitive Machines (NASDAQ:LUNR) last issued its earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The company had revenue of $206.17 million for the quarter, compared to analysts’ expectations of $212.32 million. Research analysts anticipate that Intuitive Machines, Inc. will post -0.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on LUNR shares. Canaccord Genuity Group cut their price objective on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, August 18th. Stifel Nicolaus upgraded shares of Intuitive Machines from a “hold” rating to a “buy” rating and decreased their target price for the stock from $32.00 to $26.00 in a report on Friday, August 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of Intuitive Machines in a research report on Monday. Zacks Research upgraded shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a report on Friday, July 17th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $30.50.

Institutional Trading of Intuitive Machines

A number of hedge funds have recently made changes to their positions in the stock. Tema ETFs LLC increased its stake in Intuitive Machines by 139,768.2% in the 2nd quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock valued at $66,418,000 after buying an additional 3,102,854 shares during the period. Tidal Investments LLC acquired a new stake in Intuitive Machines during the second quarter valued at $64,452,000. Renaissance Technologies LLC acquired a new position in Intuitive Machines in the 1st quarter worth about $35,895,000. Bank of America Corp DE lifted its holdings in shares of Intuitive Machines by 188.9% during 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 buying an additional 1,231,188 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Intuitive Machines by 28.8% in the 1st quarter. First Trust Advisors LP now owns 657,318 shares of the company’s stock valued at $12,200,000 after buying an additional 147,095 shares in the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

About Intuitive Machines

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and delivers lunar missions, spacecraft, and related services for government and commercial customers, with a focus on supporting a sustainable presence on the Moon.

Its activities include lunar payload delivery, spacecraft and lander development, lunar communications and navigation services, and the collection and transmission of data from the lunar surface. Intuitive Machines’ Nova-C lunar lander is designed to transport scientific instruments, technology demonstrations, and other payloads to the Moon.

Founded in 2013 by Stephen Altemus, who serves as president and chief executive officer, Intuitive Machines has supported NASA’s Commercial Lunar Payload Services program.