Intuitive Machines (NASDAQ:LUNR) Stock Price Down 3.8% Following Insider Selling

Intuitive Machines, Inc. (NASDAQ:LUNR) shares traded down 3.8% on Monday following insider selling activity. The stock traded as low as $20.54 and last traded at $21.99. Approximately 12,426,328 shares were traded during trading, a decline of 9% from the average daily volume of 13,691,643 shares. The stock had previously closed at $22.85.

Specifically, SVP Timothy Price Crain II sold 150,000 shares of the company’s stock in a transaction on Thursday, June 18th. The stock was 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kamal Seyed Ghaffarian sold 141,909 shares of the firm’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $26.15, for a total value of $3,710,920.35. Following the sale, the director directly owned 3,494,768 shares in the company, valued at approximately $91,388,183.20. The trade was 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.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Cantor Fitzgerald boosted their target price on shares of Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. B. Riley Financial lifted their price objective on shares of Intuitive Machines to $45.00 and gave the stock a “buy” rating in a research report on Friday, May 15th. Roth Mkm boosted their price objective on shares of Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Wall Street Zen raised shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Finally, KeyCorp upped their price target on Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $31.50.

Intuitive Machines Trading Down 3.8%

The stock has a market capitalization of $4.77 billion, a PE ratio of -24.99 and a beta of 1.68. The company’s 50-day moving average is $29.90 and its 200 day moving average is $21.83.

Intuitive Machines (NASDAQ:LUNR) last released its earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The business had revenue of $186.73 million for the quarter, compared to the consensus estimate of $202.95 million. Sell-side analysts forecast that Intuitive Machines, Inc. will post -0.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Intuitive Machines by 13.3% during the 3rd quarter. Vanguard Group Inc. now owns 6,090,059 shares of the company’s stock worth $64,067,000 after acquiring an additional 717,256 shares during the period. Trustees of the University of Pennsylvania acquired a new position in shares of Intuitive Machines in the fourth quarter valued at about $52,689,000. UBS Group AG raised its stake in shares of Intuitive Machines by 22.0% in the fourth quarter. UBS Group AG now owns 3,095,383 shares of the company’s stock worth $50,238,000 after purchasing an additional 557,517 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Intuitive Machines by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 2,735,161 shares of the company’s stock worth $44,399,000 after purchasing an additional 61,084 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Intuitive Machines by 18.4% during the third quarter. Bank of America Corp DE now owns 2,677,305 shares of the company’s stock worth $28,165,000 after purchasing an additional 415,359 shares during the period. 72.21% of the stock is owned by institutional investors and hedge funds.

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.