Insider Selling: Intuitive Machines (NASDAQ:LUNR) SVP Sells $1,398,000.00 in Stock

Intuitive Machines, Inc. (NASDAQ:LUNR) SVP Timothy Crain, II sold 100,000 shares of Intuitive Machines stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $13.98, for a total value of $1,398,000.00. Following the sale, the senior vice president directly owned 351,279 shares of the company’s stock, valued at $4,910,880.42. This trade represents a 22.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 3.0%

Shares of NASDAQ LUNR opened at $15.70 on Friday. The company has a 50 day simple moving average of $15.20 and a two-hundred day simple moving average of $21.48. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of -16.53 and a beta of 1.85. Intuitive Machines, Inc. has a 12 month low of $7.78 and a 12 month high of $46.75.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings data 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 firm had revenue of $206.17 million for the quarter, compared to analysts’ expectations of $212.32 million. Analysts forecast that Intuitive Machines, Inc. will post -0.6 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on LUNR shares. Bank of America upped their target price on Intuitive Machines from $11.00 to $13.00 and gave the stock an “underperform” rating in a research note on Monday, August 31st. Stifel Nicolaus raised shares of Intuitive Machines from a “hold” rating to a “buy” rating and dropped their price target for the company from $32.00 to $26.00 in a research note on Friday, August 14th. Roth Capital set a $30.00 price objective on Intuitive Machines in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a report on Friday, July 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Intuitive Machines in a report on Monday. Seven research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Institutional Investors Weigh In On Intuitive Machines

A number of hedge funds and other institutional investors have recently modified their holdings of LUNR. Tema ETFs LLC increased its position in shares of Intuitive Machines by 139,768.2% during the second quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock worth $66,418,000 after purchasing an additional 3,102,854 shares in the last quarter. Tidal Investments LLC purchased a new position in Intuitive Machines during the 2nd quarter worth $64,452,000. Renaissance Technologies LLC purchased a new position in Intuitive Machines during the first quarter worth about $35,895,000. Bank of America Corp DE raised its stake 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 worth $34,948,000 after buying an additional 1,231,188 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Intuitive Machines by 28.8% in the first quarter. First Trust Advisors LP now owns 657,318 shares of the company’s stock worth $12,200,000 after acquiring an additional 147,095 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.