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

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price was down 4.7% on Tuesday after an insider sold shares in the company. The stock traded as low as $20.74 and last traded at $20.95. 9,138,824 shares were traded during trading, a decline of 33% from the average daily 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 stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $21.87, for a total transaction of $3,280,500.00. Following the completion of the sale, the senior vice president directly owned 351,279 shares in the company, valued at $7,682,471.73. This represents a 29.92% decrease in their ownership of the stock. The transaction 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. Also, Director Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock in a transaction on Monday, June 15th. The stock was sold at an average price of $26.15, for a total transaction of $3,710,920.35. Following the transaction, the director directly owned 3,494,768 shares of the company’s stock, valued at $91,388,183.20. This represents a 3.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analyst Weigh In

A number of analysts have commented on LUNR shares. Stifel Nicolaus set a $32.00 price target on shares of Intuitive Machines in a research report on Friday, May 15th. Roth Mkm lifted their price objective on Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Zacks Research downgraded Intuitive Machines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. B. Riley Financial upped their target price on Intuitive Machines to $45.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $34.00 target price on shares of Intuitive Machines in a report on Wednesday, May 20th. Eight 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $31.50.

Intuitive Machines Stock Performance

The company has a 50 day moving average price of $29.90 and a 200 day moving average price of $21.92. The company has a market capitalization of $4.55 billion, a price-to-earnings ratio of -23.81 and a beta of 1.68.

Intuitive Machines (NASDAQ:LUNR) last issued 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 analyst estimates of $202.95 million. Research analysts forecast that Intuitive Machines, Inc. will post -0.35 EPS for the current year.

Institutional Investors Weigh In On Intuitive Machines

Several hedge funds and other institutional investors have recently modified their holdings of the company. International Assets Investment Management LLC bought a new position in shares of Intuitive Machines in the 4th quarter worth $28,000. State of Wyoming bought a new stake in Intuitive Machines during the 1st quarter valued at $39,000. Larson Financial Group LLC raised its holdings in Intuitive Machines by 63.2% during the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after buying an additional 1,016 shares during the last quarter. GAMMA Investing LLC raised its holdings in Intuitive Machines by 41.5% during the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after buying an additional 781 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Intuitive Machines by 34.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock valued at $52,000 after buying an additional 712 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.

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.