Insider Selling: Intuitive Machines (NASDAQ:LUNR) Director Sells 141,909 Shares of Stock

Intuitive Machines, Inc. (NASDAQ:LUNR) Director Kamal Seyed Ghaffarian sold 141,909 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $16.87, for a total value of $2,394,004.83. Following the completion of the transaction, the director directly owned 3,494,768 shares in the company, valued at $58,956,736.16. The trade was a 3.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kamal Seyed Ghaffarian also recently made the following trade(s):

• On Monday, August 10th, Kamal Seyed Ghaffarian sold 267,448 shares of Intuitive Machines stock. The shares were sold at an average price of $16.17, for a total transaction of $4,324,634.16.
• On Monday, July 27th, Kamal Seyed Ghaffarian sold 47,303 shares of Intuitive Machines stock. The stock was sold at an average price of $13.20, for a total transaction of $624,399.60.
• On Monday, June 29th, Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock. The stock was sold at an average price of $20.43, for a total transaction of $2,899,200.87.
• On Monday, June 15th, Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock. The stock was sold at an average price of $26.15, for a total transaction of $3,710,920.35.
• On Monday, June 1st, Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock. The shares were sold at an average price of $39.02, for a total transaction of $5,537,289.18.

Intuitive Machines Stock Down 3.0%

LUNR stock traded down $0.49 during midday trading on Wednesday, reaching $16.11. 5,336,798 shares of the company’s stock traded hands, compared to its average volume of 10,990,876. Intuitive Machines, Inc. has a 52-week low of $7.78 and a 52-week high of $46.75. The stock’s 50-day moving average is $16.79 and its 200 day moving average is $21.87.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The firm had revenue of $206.17 million for the quarter, compared to analyst estimates of $212.32 million. On average, research analysts expect that Intuitive Machines, Inc. will post -0.64 earnings per share for the current year.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors have recently bought and sold shares of LUNR. California State Teachers Retirement System raised its holdings in Intuitive Machines by 2,309.3% during the second quarter. California State Teachers Retirement System now owns 3,046,364 shares of the company’s stock valued at $65,162,000 after acquiring an additional 2,919,922 shares during the period. Odyssean LLC purchased a new position in shares of Intuitive Machines in the second quarter valued at about $277,000. Raiffeisen Bank International AG bought a new position in shares of Intuitive Machines in the second quarter worth about $3,565,000. Nykredit A S bought a new position in shares of Intuitive Machines in the second quarter worth about $25,000. Finally, Headlands Technologies LLC purchased a new stake in shares of Intuitive Machines during the second quarter worth about $471,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Stifel Nicolaus raised Intuitive Machines from a “hold” rating to a “buy” rating and cut their price target for the company from $32.00 to $26.00 in a report on Friday, August 14th. Roth Capital set a $30.00 price objective on Intuitive Machines in a research note on Thursday, August 13th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $34.00 price objective on shares of Intuitive Machines in a research report on Wednesday, May 20th. Zacks Research upgraded Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Finally, B. Riley Financial decreased their target price on shares of Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.06.

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.