Insider Selling: Intuitive Machines (NASDAQ:LUNR) Director Sells $4,324,634.16 in Stock

Key Points

• Director Kamal Seyed Ghaffarian sold 267,448 Intuitive Machines shares at an average of $16.17, generating $4.32 million. The Rule 10b5-1 transaction reduced his direct stake by 7.11%, though he still owns 3.49 million shares.
• Intuitive Machines shares traded at $16.95, well below their 50-day and 200-day moving averages of $18.70 and $21.94, respectively, and far below the 52-week high of $46.75.
• The company recently missed quarterly earnings and revenue expectations. Analysts remain mixed, with a consensus “Hold” rating and an average price target of $33.31, while institutional investors own 72.21% of the stock.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) Director Kamal Seyed Ghaffarian sold 267,448 shares of the company's stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $16.17, for a total transaction of $4,324,634.16. Following the completion of the sale, the director directly owned 3,494,768 shares in the company, valued at $56,510,398.56. This trade represents a 7.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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, 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 stock was 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 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 stock was sold at an average price of $39.02, for a total value of $5,537,289.18.
• On Monday, May 18th, Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock. The shares were sold at an average price of $34.25, for a total transaction of $4,860,383.25.

Intuitive Machines Price Performance

Shares of LUNR traded up $0.47 during midday trading on Wednesday, hitting $16.95. The company had a trading volume of 13,284,703 shares, compared to its average volume of 9,398,054. The company's 50 day moving average price is $18.70 and its 200 day moving average price is $21.94. Intuitive Machines, Inc. has a 52 week low of $7.78 and a 52 week high of $46.75.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The firm had revenue of $186.73 million during the quarter, compared to the consensus estimate of $202.95 million. Equities analysts expect that Intuitive Machines, Inc. will post -0.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Calamos Advisors LLC acquired a new position in Intuitive Machines during the 1st quarter worth $2,984,000. Jefferies Financial Group Inc. acquired a new position in shares of Intuitive Machines during the fourth quarter valued at $717,000. Fifth Third Bancorp bought a new position in Intuitive Machines in the first quarter valued at about $4,314,000. Trustees of the University of Pennsylvania acquired a new stake in Intuitive Machines in the fourth quarter worth about $52,689,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its holdings in Intuitive Machines by 202.1% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 461,564 shares of the company's stock worth $8,567,000 after purchasing an additional 308,755 shares during the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Zacks Research raised shares of Intuitive Machines from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 14th. KeyCorp increased their price target on Intuitive Machines from $26.00 to $27.00 and gave the company an "overweight" rating in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $34.00 price target on shares of Intuitive Machines in a research report on Wednesday, May 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of Intuitive Machines in a report on Friday, July 17th. Finally, Cantor Fitzgerald boosted their target price on shares of Intuitive Machines from $26.00 to $43.00 and gave the stock an "overweight" rating in a report on Tuesday, May 19th. Seven analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $33.31.

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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