Intuitive Machines (NASDAQ:LUNR) Trading Down 4.4% After Insider Selling

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) were down 4.4% during mid-day trading on Monday following insider selling activity. The stock traded as low as $8.55 and last traded at $8.75. Approximately 5,598,846 shares changed hands during mid-day trading, a decline of 33% from the average daily volume of 8,299,583 shares. The stock had previously closed at $9.15.

Specifically, Director Michael Blitzer sold 662,673 shares of Intuitive Machines stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $8.19, for a total transaction of $5,427,291.87. Following the completion of the transaction, the director now owns 1,062,865 shares of the company’s stock, valued at approximately $8,704,864.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen J. Altemus sold 250,000 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $9.01, for a total value of $2,252,500.00. Following the transaction, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at approximately $8,207,380.19. The disclosure for this sale can be found here. In other news, SVP Timothy Price Crain II sold 300,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $8.23, for a total transaction of $2,469,000.00. Following the completion of the transaction, the senior vice president now owns 362,810 shares of the company’s stock, valued at $2,985,926.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. B. Riley boosted their price objective on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Benchmark reissued a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Finally, Roth Mkm reissued a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $10.60.

Intuitive Machines Stock Performance

The stock has a 50-day moving average of $4.94 and a two-hundred day moving average of $4.97. The company has a market cap of $952.19 million, a P/E ratio of 18.63 and a beta of 0.26.

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

Institutional Trading of Intuitive Machines

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Intuitive Machines by 250.0% in the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock valued at $3,758,000 after purchasing an additional 429,531 shares during the last quarter. Wedbush Securities Inc. bought a new stake in Intuitive Machines in the second quarter valued at approximately $35,000. Sanders Morris Harris LLC bought a new stake in Intuitive Machines in the first quarter valued at approximately $119,000. Inscription Capital LLC bought a new stake in Intuitive Machines in the first quarter valued at approximately $304,000. Finally, Tealwood Asset Management Inc. bought a new stake in Intuitive Machines in the first quarter valued at approximately $131,000. 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.