Insider Selling: Intuitive Machines (NASDAQ:LUNR) CEO Sells 428,503 Shares of Stock

Intuitive Machines, Inc. (NASDAQ:LUNR) CEO Stephen Altemus sold 428,503 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $20.06, for a total value of $8,595,770.18. Following the transaction, the chief executive officer directly owned 1,026,402 shares in the company, valued at approximately $20,589,624.12. This trade represents a 29.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Intuitive Machines Trading Down 1.8%

Shares of LUNR traded down $0.39 during mid-day trading on Tuesday, reaching $21.19. The company’s stock had a trading volume of 12,375,532 shares, compared to its average volume of 13,654,785. Intuitive Machines, Inc. has a 1-year low of $6.14 and a 1-year high of $24.95. The business has a 50-day simple moving average of $13.45 and a two-hundred day simple moving average of $11.62. The stock has a market cap of $3.82 billion, a P/E ratio of -8.58 and a beta of 1.37.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds have recently added to or reduced their stakes in LUNR. ARK Investment Management LLC increased its position in Intuitive Machines by 56.1% during the 2nd quarter. ARK Investment Management LLC now owns 1,158,775 shares of the company’s stock worth $12,596,000 after purchasing an additional 416,337 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Intuitive Machines by 36.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 486,752 shares of the company’s stock worth $5,121,000 after buying an additional 129,896 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Intuitive Machines during the third quarter worth $3,134,000. Ensign Peak Advisors Inc bought a new position in shares of Intuitive Machines in the 2nd quarter valued at $373,000. Finally, Voya Investment Management LLC lifted its stake in shares of Intuitive Machines by 56.1% in the 3rd quarter. Voya Investment Management LLC now owns 2,656,684 shares of the company’s stock valued at $27,948,000 after acquiring an additional 954,778 shares during the last quarter. Institutional investors own 72.21% of the company’s stock.

Analyst Upgrades and Downgrades

LUNR has been the topic of several research analyst reports. KeyCorp initiated coverage on shares of Intuitive Machines in a research report on Thursday, December 18th. They issued an “overweight” rating and a $20.00 price objective on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Intuitive Machines in a research report on Wednesday, December 3rd. Roth Capital restated a “buy” rating on shares of Intuitive Machines in a report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a research note on Wednesday, October 8th. Finally, Stifel Nicolaus set a $20.00 price target on Intuitive Machines and gave the stock a “hold” rating in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $17.00.

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.