Intuitive Machines (NASDAQ:LUNR) Trading Down 3.8% on Insider Selling

Intuitive Machines, Inc. (NASDAQ:LUNR) dropped 3.8% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $6.70 and last traded at $7.11. Approximately 5,656,606 shares were traded during trading, a decline of 35% from the average daily volume of 8,674,517 shares. The stock had previously closed at $7.39.

Specifically, Director Kamal Seyed Ghaffarian sold 125,991 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $7.43, for a total transaction of $936,113.13. Following the completion of the sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at approximately $25,966,126.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Wall Street Analyst Weigh In

Several brokerages have commented on LUNR. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday, September 18th. B. Riley upped their price target on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Benchmark reiterated a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a research report on Wednesday, September 18th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $10.00 price target on shares of Intuitive Machines in a research report on Monday, September 30th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $10.60.

Intuitive Machines Stock Performance

The business’s 50-day simple moving average is $5.71 and its 200 day simple moving average is $5.13.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $41.41 million for the quarter, compared to the consensus estimate of $43.00 million. On average, equities research analysts predict that Intuitive Machines, Inc. will post 0.47 EPS for the current fiscal year.

Institutional Trading of Intuitive Machines

Institutional investors have recently made changes to their positions in the stock. Wedbush Securities Inc. purchased a new stake in shares of Intuitive Machines during the second quarter valued at approximately $35,000. Sender Co & Partners Inc. purchased a new stake in shares of Intuitive Machines during the second quarter valued at approximately $56,000. Baltimore Washington Financial Advisors Inc. purchased a new stake in Intuitive Machines in the first quarter worth $67,000. SG Americas Securities LLC purchased a new stake in Intuitive Machines in the third quarter worth $93,000. Finally, Rhumbline Advisers purchased a new stake in Intuitive Machines in the second quarter worth $119,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

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.