Insider Selling: Intuitive Machines (NASDAQ:LUNR) CEO Sells $1,513,808.56 in Stock

Intuitive Machines, Inc. (NASDAQ:LUNR) CEO Stephen Altemus sold 83,914 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $1,513,808.56. Following the transaction, the chief executive officer directly owned 1,026,402 shares in the company, valued at $18,516,292.08. The trade was a 7.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Intuitive Machines Stock Up 5.4%

NASDAQ LUNR opened at $19.63 on Friday. The firm has a market cap of $3.54 billion, a P/E ratio of -7.95 and a beta of 1.37. Intuitive Machines, Inc. has a 52-week low of $6.14 and a 52-week high of $24.95. The business’s 50-day moving average price is $12.16 and its 200 day moving average price is $11.17.

Hedge Funds Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently made changes to their positions in LUNR. GAMMA Investing LLC lifted its stake in shares of Intuitive Machines by 41.5% in the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after purchasing an additional 781 shares during the period. Tealwood Asset Management Inc. increased its holdings in Intuitive Machines by 4.4% in the third quarter. Tealwood Asset Management Inc. now owns 21,250 shares of the company’s stock valued at $224,000 after buying an additional 900 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Intuitive Machines by 35.6% during the 2nd 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 period. Tower Research Capital LLC TRC boosted its stake in shares of Intuitive Machines by 12.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,478 shares of the company’s stock worth $147,000 after acquiring an additional 1,499 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in shares of Intuitive Machines by 180.0% in the 2nd quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company’s stock worth $30,000 after acquiring an additional 1,800 shares during the period. 72.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LUNR. Canaccord Genuity Group cut their price target on Intuitive Machines from $18.50 to $15.50 and set a “buy” rating for the company in a research note on Friday, November 7th. Stifel Nicolaus set a $20.00 price objective on shares of Intuitive Machines in a research note on Friday. Roth Capital restated a “buy” rating on shares of Intuitive Machines in a research report on Tuesday, November 4th. Zacks Research raised shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. Finally, Bank of America boosted their price target on shares of Intuitive Machines from $8.50 to $9.50 and gave the stock an “underperform” rating in a research note on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Intuitive Machines has an average rating of “Moderate Buy” and an average price target of $16.42.

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.