Intuitive Machines (NASDAQ:LUNR) Stock Price Down 3.1% on Insider Selling

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price traded down 3.1% during trading on Thursday following insider selling activity. The company traded as low as $19.09 and last traded at $19.58. Approximately 9,142,693 shares were traded during trading, a decline of 33% from the average daily volume of 13,590,553 shares. The stock had previously closed at $20.20.

Specifically, Director Kamal Seyed Ghaffarian sold 141,909 shares of the company’s stock in a transaction on Monday, June 29th. The stock was sold at an average price of $20.43, for a total transaction of $2,899,200.87. Following the completion of the sale, the director directly owned 3,494,768 shares in the company, valued at $71,398,110.24. This represents a 3.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $34.00 target price on shares of Intuitive Machines in a research report on Wednesday, May 20th. Stifel Nicolaus set a $32.00 price target on Intuitive Machines in a research note on Friday, May 15th. B. Riley Financial restated a “buy” rating on shares of Intuitive Machines in a research note on Wednesday, June 24th. Cantor Fitzgerald raised their price objective on Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, May 19th. Finally, KeyCorp lifted their price objective on Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Eight investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Intuitive Machines currently has an average rating of “Hold” and a consensus target price of $31.50.

Intuitive Machines Stock Performance

The firm has a fifty day moving average of $29.16 and a 200-day moving average of $22.34. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of -22.25 and a beta of 1.78.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The business had revenue of $186.73 million during the quarter, compared to the consensus estimate of $202.95 million. On average, analysts predict that Intuitive Machines, Inc. will post -0.36 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its stake in Intuitive Machines by 34.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock valued at $52,000 after purchasing an additional 712 shares in the last quarter. GAMMA Investing LLC raised its position in shares of 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. Sigma Planning Corp boosted its stake in shares of Intuitive Machines by 8.8% during the 4th quarter. Sigma Planning Corp now owns 10,947 shares of the company’s stock valued at $178,000 after buying an additional 886 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its stake in shares of Intuitive Machines by 9.9% during the 1st quarter. Nations Financial Group Inc. IA ADV now owns 11,080 shares of the company’s stock valued at $206,000 after buying an additional 1,000 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

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.