Intuitive Machines (NASDAQ:LUNR) Shares Down 0.3% on Insider Selling

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) fell 0.3% on Wednesday following insider selling activity. The company traded as low as $8.36 and last traded at $8.55. 3,152,380 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 8,719,884 shares. The stock had previously closed at $8.58.

Specifically, Director Kamal Seyed Ghaffarian sold 344,893 shares of Intuitive Machines stock in a transaction on Monday, October 21st. The shares were sold at an average price of $8.02, for a total value of $2,766,041.86. Following the completion of the transaction, the director now owns 3,494,768 shares of the company’s stock, valued at $28,028,039.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Analysts Set New Price Targets

A number of research firms have commented on LUNR. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Monday, September 30th. B. Riley raised their target price on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Benchmark reiterated a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $10.60.

Intuitive Machines Stock Up 0.9 %

The business’s 50 day moving average is $6.61 and its two-hundred day moving average is $5.25. The firm has a market capitalization of $995.81 million, a P/E ratio of 19.95 and a beta of 0.34.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. The business had revenue of $41.41 million during the quarter, compared to the consensus estimate of $43.00 million. As a group, equities analysts anticipate that Intuitive Machines, Inc. will post 0.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Intuitive Machines

A number of institutional investors have recently bought and sold shares of LUNR. Squarepoint Ops LLC purchased a new position in Intuitive Machines during the 2nd quarter valued at about $536,000. Vanguard Group Inc. lifted its holdings in shares of Intuitive Machines by 250.0% during the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock valued at $3,758,000 after buying an additional 429,531 shares during the last quarter. Wedbush Securities Inc. acquired a new stake in Intuitive Machines in the 2nd quarter worth approximately $35,000. XTX Topco Ltd acquired a new stake in Intuitive Machines in the 2nd quarter worth approximately $164,000. Finally, Bank of New York Mellon Corp acquired a new stake in Intuitive Machines in the 2nd quarter worth approximately $272,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.