Intuitive Machines (NASDAQ:LUNR) Stock Price Down 7.6% on Insider Selling

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 changed hands during mid-day 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 stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $29.87, for a total value 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. This trade represents a 21.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines 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 sale, the director owned 3,494,768 shares of the company’s stock, valued at approximately $136,365,847.36. The trade was 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

A number of analysts have commented on the company. Stifel Nicolaus set a $32.00 target price on Intuitive Machines in a research report on Friday, May 15th. Wall Street Zen raised shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Canaccord Genuity Group lifted their price objective on Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Cantor Fitzgerald raised their price target on Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Finally, Zacks Research downgraded Intuitive Machines from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 19th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.50.

Intuitive Machines Trading Down 7.6%

The company has a market cap of $5.96 billion, a price-to-earnings ratio of -31.22 and a beta of 1.68. The stock’s 50 day moving average price is $29.11 and its 200 day moving average price is $20.79.

Intuitive Machines (NASDAQ:LUNR) last released its earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) 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. On average, equities analysts expect that Intuitive Machines, Inc. will post -0.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. International Assets Investment Management LLC purchased a new stake in Intuitive Machines during the fourth quarter valued at about $28,000. State of Wyoming purchased a new stake in shares of Intuitive Machines during the 1st quarter worth about $39,000. Larson Financial Group LLC increased its position in shares of Intuitive Machines by 63.2% in the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after acquiring an additional 1,016 shares in the last quarter. GAMMA Investing LLC increased its holdings in Intuitive Machines by 41.5% in the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after purchasing an additional 781 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew 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. 72.21% of the stock is owned by hedge funds and other institutional investors.

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.