Intuitive Machines (NASDAQ:LUNR) Shares Down 4.4% After Insider Selling

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) dropped 4.4% during trading on Monday following insider selling activity. The stock traded as low as $11.80 and last traded at $11.87. Approximately 1,432,673 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 13,131,737 shares. The stock had previously closed at $12.41.

Specifically, Director Kamal Seyed Ghaffarian sold 40,254 shares of the stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $12.02, for a total value of $483,853.08. Following the sale, the director owned 3,494,768 shares of the company's stock, valued at $42,007,111.36. This trade represents a 1.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 80,508 shares of the business's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $12.05, for a total transaction of $970,121.40. Following the transaction, the director directly owned 3,494,768 shares of the company's stock, valued at $42,111,954.40. The trade was a 2.25% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LUNR shares. Canaccord Genuity Group lifted their price target on Intuitive Machines from $21.00 to $21.50 and gave the company a "buy" rating in a report on Wednesday, May 14th. Cantor Fitzgerald lifted their target price on Intuitive Machines from $13.00 to $16.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. Craig Hallum began coverage on Intuitive Machines in a research note on Tuesday. They issued a "buy" rating and a $17.00 price target for the company. Roth Capital reissued a "buy" rating on shares of Intuitive Machines in a report on Tuesday, May 13th. Finally, Barclays started coverage on shares of Intuitive Machines in a report on Thursday, May 22nd. They issued a "neutral" rating for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Intuitive Machines presently has an average rating of "Moderate Buy" and a consensus price target of $15.60.

Intuitive Machines Price Performance

The firm's 50-day simple moving average is $11.18 and its 200 day simple moving average is $12.42.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last released its earnings results on Tuesday, May 13th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.10). The company had revenue of $62.52 million for the quarter, compared to analyst estimates of $66.07 million. On average, equities analysts anticipate that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

Institutional Investors Weigh In On Intuitive Machines

Several large investors have recently modified their holdings of LUNR. Charles Schwab Investment Management Inc. boosted its position in shares of Intuitive Machines by 5.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 109,761 shares of the company's stock valued at $1,993,000 after purchasing an additional 5,970 shares during the period. Commonwealth Equity Services LLC acquired a new position in shares of Intuitive Machines in the fourth quarter worth about $357,000. Intech Investment Management LLC purchased a new position in shares of Intuitive Machines in the fourth quarter worth approximately $318,000. Vanguard Group Inc. raised its holdings in shares of Intuitive Machines by 33.6% during the fourth quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company's stock valued at $73,503,000 after acquiring an additional 1,017,706 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Intuitive Machines in the 4th quarter valued at approximately $5,600,000. 72.21% of the stock is owned by institutional investors.

About Intuitive Machines

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.