Insider Selling: Intuitive Machines (NASDAQ:LUNR) Director Sells $2,394,004.83 in Stock

Key Points

• Director Kamal Seyed Ghaffarian sold 141,909 Intuitive Machines shares for approximately $2.39 million at an average price of $16.87 under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 3.9% to 3.49 million shares.
• Intuitive Machines shares fell 3.0% to $16.11, while the company’s latest quarterly results missed expectations, reporting an adjusted loss of $0.29 per share versus the $0.09 consensus estimate and revenue of $206.17 million versus $212.32 million expected.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $30.06, despite the stock trading well below its 12-month high of $46.75.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) Director Kamal Seyed Ghaffarian sold 141,909 shares of the business's stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $16.87, for a total value of $2,394,004.83. Following the completion of the sale, the director directly owned 3,494,768 shares in the company, valued at approximately $58,956,736.16. This represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Kamal Seyed Ghaffarian also recently made the following trade(s):

• On Monday, August 10th, Kamal Seyed Ghaffarian sold 267,448 shares of Intuitive Machines stock. The shares were sold at an average price of $16.17, for a total value of $4,324,634.16.
• On Monday, July 27th, Kamal Seyed Ghaffarian sold 47,303 shares of Intuitive Machines stock. The shares were sold at an average price of $13.20, for a total value of $624,399.60.
• On Monday, June 29th, Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock. The shares were sold at an average price of $20.43, for a total value of $2,899,200.87.
• On Monday, June 15th, Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock. The stock was sold at an average price of $26.15, for a total value of $3,710,920.35.
• On Monday, June 1st, Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock. The stock was sold at an average price of $39.02, for a total value of $5,537,289.18.

Intuitive Machines Trading Down 3.0%

Shares of NASDAQ LUNR traded down $0.49 during trading on Wednesday, reaching $16.11. The company had a trading volume of 5,336,798 shares, compared to its average volume of 10,990,876. Intuitive Machines, Inc. has a 12-month low of $7.78 and a 12-month high of $46.75. The business's 50-day moving average is $16.79 and its 200 day moving average is $21.87.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The firm had revenue of $206.17 million during the quarter, compared to analysts' expectations of $212.32 million. As a group, equities analysts forecast that Intuitive Machines, Inc. will post -0.64 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on LUNR shares. Zacks Research upgraded shares of Intuitive Machines from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. KeyCorp boosted their price objective on shares of Intuitive Machines from $26.00 to $27.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Roth Capital set a $30.00 price objective on Intuitive Machines in a research report on Thursday, August 13th. Stifel Nicolaus upgraded Intuitive Machines from a "hold" rating to a "buy" rating and cut their target price for the company from $32.00 to $26.00 in a research note on Friday, August 14th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Intuitive Machines in a report on Friday, July 17th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $30.06.

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Nykredit A S purchased a new stake in Intuitive Machines in the second quarter worth approximately $25,000. C M Bidwell & Associates Ltd. bought a new stake in Intuitive Machines in the 2nd quarter worth approximately $374,000. International Assets Investment Management LLC purchased a new stake in Intuitive Machines during the 4th quarter valued at $28,000. State of Wyoming purchased a new stake in Intuitive Machines during the 1st quarter valued at $39,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Intuitive Machines by 63.2% during the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company's stock valued at $43,000 after buying an additional 1,016 shares during the period. Institutional investors own 72.21% of the company's stock.

About Intuitive Machines

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA's Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.

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