Intuitive Machines (NASDAQ:LUNR) Shares Down 7.7% Following Insider Selling

Key Points

• Shares fell 7.7% intraday to about $17.73 after insider selling, with volume around 4.18 million shares (a 63% drop from the average) versus a prior close of $19.20.
• Two executives sold stock on Jan. 8: SVP Timothy Price Crain II sold 5,660 shares and CEO Stephen J. Altemus sold 12,669 shares at about $20 each, trimming their stakes by ~1.86% and ~1.22%, respectively.
• Analysts remain largely positive—the consensus is a "Moderate Buy" with an average price target of $17.00, while several firms have raised targets to the $20–$22.50 range and issued Buy/Overweight ratings.

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) dropped 7.7% during trading on Tuesday after an insider sold shares in the company. The company traded as low as $17.83 and last traded at $17.7270. Approximately 4,177,212 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 11,404,092 shares. The stock had previously closed at $19.20.

Specifically, SVP Timothy Price Crain II sold 5,660 shares of the company's stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $20.00, for a total value of $113,200.00. Following the transaction, the senior vice president directly owned 298,435 shares in the company, valued at approximately $5,968,700. This represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Stephen J. Altemus sold 12,669 shares of the business's stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $20.00, for a total transaction of $253,380.00. Following the completion of the sale, the chief executive officer directly owned 1,026,402 shares of the company's stock, valued at $20,528,040. This represents a 1.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LUNR shares. B. Riley boosted their price target on Intuitive Machines from $14.00 to $20.00 and gave the company a "buy" rating in a research note on Monday, December 22nd. Cantor Fitzgerald reiterated an "overweight" rating on shares of Intuitive Machines in a research report on Wednesday, December 3rd. Canaccord Genuity Group increased their target price on Intuitive Machines from $15.50 to $22.50 and gave the stock a "buy" rating in a report on Monday. Stifel Nicolaus set a $20.00 price target on Intuitive Machines and gave the company a "hold" rating in a research note on Friday. Finally, Deutsche Bank Aktiengesellschaft set a $18.00 price objective on shares of Intuitive Machines and gave the stock a "buy" rating in a research note on Friday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.00.

Intuitive Machines Stock Performance

The company has a market cap of $3.16 billion, a price-to-earnings ratio of -7.15 and a beta of 1.37. The company has a fifty day moving average of $12.44 and a two-hundred day moving average of $11.30.

Institutional Trading of Intuitive Machines

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Intuitive Machines by 41.5% in the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company's stock valued at $43,000 after buying an additional 781 shares during the last quarter. Tealwood Asset Management Inc. increased its position in Intuitive Machines by 4.4% in the 3rd quarter. Tealwood Asset Management Inc. now owns 21,250 shares of the company's stock valued at $224,000 after acquiring an additional 900 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Intuitive Machines by 35.6% during the second quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company's stock valued at $47,000 after acquiring an additional 1,127 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Intuitive Machines by 12.5% during the second quarter. Tower Research Capital LLC TRC now owns 13,478 shares of the company's stock worth $147,000 after purchasing an additional 1,499 shares during the period. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Intuitive Machines by 180.0% during the second quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company's stock worth $30,000 after purchasing an additional 1,800 shares during the period. 72.21% of the stock is currently owned by institutional investors.

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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