Intuitive Machines (NASDAQ:LUNR) Trading Down 7.7% on Insider Selling

Intuitive Machines, Inc. (NASDAQ:LUNR) shares traded down 7.7% on Tuesday after an insider sold shares in the company. The stock traded as low as $17.83 and last traded at $17.7270. 4,177,212 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 11,404,092 shares. The stock had previously closed at $19.20.

Specifically, SVP Timothy Price Crain II sold 5,660 shares of the firm’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $20.00, for a total transaction of $113,200.00. Following the completion of the transaction, the senior vice president directly owned 298,435 shares of the company’s stock, valued at $5,968,700. This trade represents a 1.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen J. Altemus sold 12,669 shares of the company’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $20.00, for a total value of $253,380.00. Following the completion of the sale, the chief executive officer owned 1,026,402 shares in the company, valued at $20,528,040. This trade represents a 1.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Canaccord Genuity Group raised their price objective on Intuitive Machines from $15.50 to $22.50 and gave the stock a “buy” rating in a research report on Monday. Stifel Nicolaus set a $20.00 price target on shares of Intuitive Machines and gave the stock a “hold” rating in a report on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Intuitive Machines in a research note on Wednesday, December 3rd. KeyCorp assumed coverage on shares of Intuitive Machines in a research note on Thursday, December 18th. They set an “overweight” rating and a $20.00 target price for the company. Finally, B. Riley upped their price target on shares of Intuitive Machines from $14.00 to $20.00 and gave the company a “buy” rating in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Intuitive Machines presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

Intuitive Machines Stock Performance

The firm has a market cap of $3.16 billion, a P/E ratio of -7.15 and a beta of 1.37. The stock’s 50 day simple moving average is $12.44 and its 200 day simple moving average is $11.30.

Institutional Trading of Intuitive Machines

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC lifted its holdings in shares of Intuitive Machines by 180.0% in the second quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company’s stock valued at $30,000 after purchasing an additional 1,800 shares in the last quarter. GAMMA Investing LLC lifted its stake in Intuitive Machines by 41.5% during the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after acquiring an additional 781 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Intuitive Machines by 35.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company’s stock worth $47,000 after acquiring an additional 1,127 shares during the last quarter. Quarry LP grew its stake in shares of Intuitive Machines by 151.4% in the 3rd quarter. Quarry LP now owns 6,457 shares of the company’s stock worth $68,000 after acquiring an additional 3,889 shares in the last quarter. Finally, GF Fund Management CO. LTD. purchased a new stake in shares of Intuitive Machines in the third quarter valued at about $94,000. 72.21% of the stock is owned by 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.