Insider Selling: Intuitive Machines (NASDAQ:LUNR) Director Sells $2,899,200.87 in Stock

Key Points

• Intuitive Machines director Kamal Seyed Ghaffarian sold 141,909 shares on June 29 for about $2.9 million at an average price of $20.43. The sale was made under a pre-arranged Rule 10b5-1 trading plan, and his ownership fell by 3.9%.
• This was part of a series of recent insider sales by Ghaffarian, who has sold the same number of shares multiple times over the past few months at varying prices, including transactions in June, May, and April.
• LUNR shares were trading lower around $20.20, well below their 50-day average of $29.16, after the company recently reported a quarterly earnings miss and revenue below expectations.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) Director Kamal Seyed Ghaffarian sold 141,909 shares of the company's stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $20.43, for a total transaction of $2,899,200.87. Following the completion of the transaction, the director owned 3,494,768 shares of the company's stock, valued at approximately $71,398,110.24. The trade was a 3.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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, June 15th, Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock. The shares were sold at an average price of $26.15, for a total transaction of $3,710,920.35.
• On Monday, June 1st, Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock. The shares were sold at an average price of $39.02, for a total transaction of $5,537,289.18.
• On Monday, May 18th, Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock. The stock was sold at an average price of $34.25, for a total transaction of $4,860,383.25.
• On Monday, May 4th, Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock. The shares were sold at an average price of $25.14, for a total value of $3,567,592.26.
• On Monday, April 20th, Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock. The shares were sold at an average price of $28.16, for a total value of $3,996,157.44.
• On Monday, April 6th, Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock. The stock was sold at an average price of $23.20, for a total value of $3,292,288.80.

Intuitive Machines Price Performance

Shares of NASDAQ:LUNR traded down $1.19 during trading on Wednesday, hitting $20.20. 15,443,608 shares of the company's stock were exchanged, compared to its average volume of 13,241,458. Intuitive Machines, Inc. has a 52-week low of $7.78 and a 52-week high of $46.75. The business's 50-day simple moving average is $29.16 and its 200 day simple moving average is $22.34. The company has a market cap of $4.38 billion, a price-to-earnings ratio of -22.95 and a beta of 1.78.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.18). The company had revenue of $186.73 million during the quarter, compared to the consensus estimate of $202.95 million. On average, sell-side analysts anticipate that Intuitive Machines, Inc. will post -0.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LUNR. International Assets Investment Management LLC bought a new stake in Intuitive Machines during the fourth quarter worth approximately $28,000. State of Wyoming bought a new stake in shares of Intuitive Machines in the 1st quarter valued at approximately $39,000. Larson Financial Group LLC boosted its holdings in shares of Intuitive Machines by 63.2% in the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company's stock worth $43,000 after purchasing an additional 1,016 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Intuitive Machines by 41.5% in the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company's stock worth $43,000 after purchasing an additional 781 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of Intuitive Machines by 34.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company's stock valued at $52,000 after purchasing an additional 712 shares during the last quarter. Institutional investors own 72.21% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on LUNR shares. B. Riley Financial reiterated a "buy" rating on shares of Intuitive Machines in a research note on Wednesday, June 24th. KeyCorp lifted their target price on Intuitive Machines from $26.00 to $27.00 and gave the stock an "overweight" rating in a report on Wednesday, April 29th. Stifel Nicolaus set a $32.00 target price on Intuitive Machines in a research report on Friday, May 15th. Wall Street Zen raised Intuitive Machines from a "strong sell" rating to a "sell" rating in a research note on Sunday, May 24th. Finally, Canaccord Genuity Group lifted their price objective on Intuitive Machines from $24.00 to $41.00 and gave the stock a "buy" rating in a research note on Friday, May 15th. Eight research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Intuitive Machines currently has an average rating of "Hold" and a consensus price target of $31.50.

Intuitive Machines Company Profile

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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