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

Intuitive Machines, Inc. (NASDAQ:LUNR) shares traded down 4.4% on Monday following insider selling activity. The stock traded as low as $8.55 and last traded at $8.75. 5,598,846 shares changed hands during trading, a decline of 33% from the average session 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 on Thursday, September 19th. The shares were sold at an average price of $8.19, for a total value of $5,427,291.87. Following the transaction, the director now owns 1,062,865 shares in the company, valued at approximately $8,704,864.35. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Stephen J. Altemus sold 250,000 shares of Intuitive Machines 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 completion of the transaction, the chief executive officer now owns 910,919 shares in the company, valued at approximately $8,207,380.19. The disclosure for this sale can be found here. In related news, SVP Timothy Price Crain II sold 300,000 shares of the 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 sale, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $2,985,926.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Ratings Changes

Several analysts have weighed in on the company. B. Riley boosted their price objective on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday. Benchmark reiterated a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $10.00 price objective 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, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $10.60.

Intuitive Machines Stock Down 4.0 %

The business has a fifty day moving average of $4.81 and a 200 day moving average of $4.93. The company has a market cap of $1.09 billion, a P/E ratio of 22.32 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) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.09. The company had revenue of $41.41 million during the quarter, compared to the consensus estimate of $43.00 million. On average, sell-side analysts anticipate that Intuitive Machines, Inc. will post 0.47 EPS for the current fiscal year.

Institutional Trading of Intuitive Machines

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wedbush Securities Inc. bought a new position in Intuitive Machines in the second quarter worth $35,000. Baltimore Washington Financial Advisors Inc. purchased a new stake in shares of Intuitive Machines in the 1st quarter worth about $67,000. Sender Co & Partners Inc. bought a new position in shares of Intuitive Machines in the 2nd quarter worth about $56,000. Sanders Morris Harris LLC purchased a new position in Intuitive Machines during the 1st quarter valued at about $119,000. Finally, Deuterium Capital Management LLC purchased a new position in Intuitive Machines during the 1st quarter valued at about $125,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Machines Company Profile

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.