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

Intuitive Machines, Inc. (NASDAQ:LUNR) shares traded down 3.5% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $5.50 and last traded at $5.52. 3,844,582 shares were traded during 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 firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $6.03, for a total value of $2,654,936.64. Following the completion of the sale, the chief executive officer now owns 910,919 shares in the company, valued at approximately $5,492,841.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Timothy Price Crain II sold 197,637 shares of Intuitive Machines stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $6.05, for a total value of $1,195,703.85. Following the sale, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $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 the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $6.08, for a total value of $3,469,886.40. Following the completion of the transaction, the director now directly owns 3,551,606 shares in the company, valued at $21,593,764.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LUNR. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price target on shares of Intuitive Machines in a report on Monday, September 9th. B. Riley began coverage on shares of Intuitive Machines in a research note on Friday, June 28th. They issued a “buy” rating and a $8.00 target price on the stock. Roth Mkm increased their price target on shares of Intuitive Machines from $7.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Finally, Benchmark reaffirmed a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, August 14th. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $9.80.

Intuitive Machines Trading Down 5.6 %

The firm has a market cap of $673.01 million, a P/E ratio of 13.17 and a beta of 0.26. The company’s fifty day moving average price is $4.54 and its two-hundred day moving average price is $4.86.

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 the consensus estimate of ($0.14) by $0.09. The firm had revenue of $41.41 million for the quarter, compared to the consensus estimate of $43.00 million. On average, analysts predict that Intuitive Machines, Inc. will post 0.47 EPS for the current fiscal year.

Institutional Investors Weigh In On Intuitive Machines

Large investors have recently bought and sold shares of the business. Wedbush Securities Inc. bought a new position in Intuitive Machines in the 2nd quarter valued at $35,000. Sender Co & Partners Inc. acquired a new stake in shares of Intuitive Machines in the second quarter valued at $56,000. Baltimore Washington Financial Advisors Inc. acquired a new stake in shares of Intuitive Machines in the first quarter valued at $67,000. Rhumbline Advisers bought a new position in shares of Intuitive Machines in the second quarter valued at about $119,000. Finally, Sanders Morris Harris LLC acquired a new position in Intuitive Machines during the 1st quarter worth about $119,000. 72.21% of the stock is currently owned by institutional investors.

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.