Insider Selling: Intuitive Machines (NASDAQ:LUNR) Director Sells 47,303 Shares of Stock

Key Points

• Director Kamal Seyed Ghaffarian sold 47,303 Intuitive Machines shares at an average price of $13.20, generating approximately $624,400. The transaction occurred under a pre-arranged Rule 10b5-1 plan and reduced his stake by 1.34% to 3.49 million shares.
• LUNR shares fell 7.9% to $11.39, well below their 50-day and 200-day moving averages. The company’s latest quarterly results missed expectations, with a $0.25 loss per share versus the anticipated $0.07 loss and revenue of $186.73 million versus $202.95 million expected.
• Analyst sentiment is mixed, with the stock carrying an average “Hold” rating and a consensus price target of $33.31. Institutional investors and hedge funds own 72.21% of the company.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) Director Kamal Seyed Ghaffarian sold 47,303 shares of the business's stock in a transaction on Monday, July 27th. The shares were sold at an average price of $13.20, for a total transaction of $624,399.60. Following the completion of the transaction, the director owned 3,494,768 shares in the company, valued at approximately $46,130,937.60. The trade was a 1.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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, 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 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 shares were 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 value of $4,860,383.25.
• On Monday, May 4th, Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock. The stock was sold at an average price of $25.14, for a total value of $3,567,592.26.

Intuitive Machines Trading Down 7.9%

LUNR stock traded down $0.98 during mid-day trading on Wednesday, reaching $11.39. The company's stock had a trading volume of 7,818,688 shares, compared to its average volume of 9,092,409. 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 price is $23.52 and its 200 day moving average price is $22.31.

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on LUNR. Zacks Research upgraded shares of Intuitive Machines from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of Intuitive Machines in a research report on Friday, July 17th. Cantor Fitzgerald increased their price objective on shares of Intuitive Machines from $26.00 to $43.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 19th. Stifel Nicolaus set a $32.00 target price on Intuitive Machines in a research note on Friday, May 15th. Finally, Wall Street Zen raised Intuitive Machines from a "strong sell" rating to a "sell" rating in a research report on Sunday, May 24th. Seven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $33.31.

Institutional Inflows and Outflows

A number of hedge funds 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 $28,000. State of Wyoming purchased a new stake in shares of Intuitive Machines during the 1st quarter valued at $39,000. Larson Financial Group LLC increased its position 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 purchasing an additional 1,016 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Intuitive Machines by 41.5% during 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. raised its stake 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 worth $52,000 after purchasing an additional 712 shares during the period. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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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