Intuitive Machines (NASDAQ:LUNR) Shares Gap Down on Insider Selling

Key Points

• Intuitive Machines shares opened lower after insider selling, falling from a previous close of $15.37 to an opening price of $14.90. Steven Vontur sold $49,196.50 worth of shares to cover tax obligations, while director Kamal Seyed Ghaffarian sold $2.39 million under a pre-arranged Rule 10b5-1 plan.
• Analyst sentiment remains mixed but leans positive: the stock has a consensus rating of “Moderate Buy” and an average price target of $30.06, despite some sell ratings.
• The company reported a quarterly loss of $0.29 per share, missing the $0.09 consensus estimate, while revenue of $206.17 million also came in below expectations. Institutional investors own approximately 72.21% of the company.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s share price gapped down prior to trading on Monday after an insider sold shares in the company. The stock had previously closed at $15.37, but opened at $14.90. Intuitive Machines shares last traded at $15.3140, with a volume of 892,322 shares.

Specifically, insider Steven Vontur sold 3,050 shares of Intuitive Machines stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $16.13, for a total value of $49,196.50. Following the transaction, the insider directly owned 113,997 shares of the company's stock, valued at $1,838,771.61. The trade was a 2.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kamal Seyed Ghaffarian sold 141,909 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $16.87, for a total transaction of $2,394,004.83. Following the transaction, the director directly owned 3,494,768 shares of the company's stock, valued at approximately $58,956,736.16. This trade represents a 3.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Analysts Set New Price Targets

Several analysts recently issued reports on LUNR shares. Roth Capital set a $30.00 target price on Intuitive Machines in a research note on Thursday, August 13th. Canaccord Genuity Group dropped their price target on Intuitive Machines from $41.00 to $39.00 and set a "buy" rating on the stock in a research report on Tuesday, August 18th. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $34.00 price objective on shares of Intuitive Machines in a report on Wednesday, May 20th. Wall Street Zen raised Intuitive Machines from a "strong sell" rating to a "sell" rating in a research report on Sunday, May 24th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Intuitive Machines in a research report on Friday, July 17th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Intuitive Machines presently has a consensus rating of "Moderate Buy" and a consensus price target of $30.06.

Intuitive Machines Trading Down 0.7%

The company has a market cap of $3.49 billion, a PE ratio of -16.06 and a beta of 1.83. The business's 50 day moving average is $16.51 and its two-hundred day moving average is $21.83.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.20). The business had revenue of $206.17 million for the quarter, compared to analyst estimates of $212.32 million. As a group, equities research analysts predict that Intuitive Machines, Inc. will post -0.64 EPS for the current fiscal year.

Institutional Trading of Intuitive Machines

Several hedge funds and other institutional investors have recently bought and sold shares of LUNR. Nykredit A S purchased a new stake in Intuitive Machines in the second quarter worth $25,000. International Assets Investment Management LLC purchased a new position in shares of Intuitive Machines in the 4th quarter valued at approximately $28,000. State of Wyoming acquired a new stake in shares of Intuitive Machines during the first quarter worth $39,000. Larson Financial Group LLC grew its holdings in shares of Intuitive Machines by 63.2% during the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company's stock valued at $43,000 after buying an additional 1,016 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Intuitive Machines by 406.4% during the fourth quarter. CWM LLC now owns 2,912 shares of the company's stock valued at $47,000 after buying an additional 2,337 shares during the last quarter. Hedge funds and other institutional investors own 72.21% of the company's stock.

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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