Intuitive Machines (NASDAQ:LUNR) Stock Price Down 3.5% Following Insider Selling

Intuitive Machines, Inc. (NASDAQ:LUNR) traded down 3.5% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $5.50 and last traded at $5.52. 3,844,582 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 6,705,923 shares. The stock had previously closed at $5.72.

Specifically, CEO Stephen J. Altemus sold 440,288 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $6.03, for a total transaction of $2,654,936.64. Following the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at approximately $5,492,841.57. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Timothy Price Crain II sold 197,637 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $6.05, for a total transaction of $1,195,703.85. Following the completion of the transaction, the senior vice president now directly owns 362,810 shares in the company, valued at $2,195,000.50. The disclosure for this sale can be found here. In related news, Director Kamal Seyed Ghaffarian sold 570,705 shares of Intuitive Machines stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $6.08, for a total transaction of $3,469,886.40. Following the completion of the sale, the director now owns 3,551,606 shares of the company’s stock, valued at $21,593,764.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LUNR. Benchmark reaffirmed a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, August 14th. Roth Mkm raised their price objective on shares of Intuitive Machines from $7.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, August 30th. B. Riley initiated coverage on shares of Intuitive Machines in a research report on Friday, June 28th. They issued a “buy” rating and a $8.00 target price for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price target on shares of Intuitive Machines in a research note on Monday, September 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Intuitive Machines presently has a consensus rating of “Buy” and a consensus target price of $9.80.

Intuitive Machines Stock Down 5.6 %

The business has a 50-day simple moving average of $4.54 and a 200-day simple moving average of $4.86. The stock has a market cap of $673.01 million, a P/E ratio of 13.17 and a beta of 0.26.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings data 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 analyst estimates of $43.00 million. On average, analysts predict that Intuitive Machines, Inc. will post 0.47 earnings per share for the current fiscal year.

Institutional Trading of Intuitive Machines

Several hedge funds have recently added to or reduced their stakes in the business. Wedbush Securities Inc. acquired a new position in shares of Intuitive Machines during the second quarter worth approximately $35,000. Sender Co & Partners Inc. acquired a new position in Intuitive Machines during the 2nd quarter valued at $56,000. Baltimore Washington Financial Advisors Inc. acquired a new position in Intuitive Machines during the 1st quarter valued at $67,000. Rhumbline Advisers bought a new stake in Intuitive Machines in the 2nd quarter valued at $119,000. Finally, Sanders Morris Harris LLC acquired a new stake in Intuitive Machines in the 1st quarter worth $119,000. 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.