Intuitive Machines (NASDAQ:LUNR) Stock Price Down 7.7% After Insider Selling

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) traded down 7.7% during mid-day 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. 4,177,212 shares changed hands during trading, a decline of 63% from the average session 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 that occurred on Thursday, January 8th. The shares were sold at an average price of $20.00, for a total value of $113,200.00. Following the completion of the transaction, the senior vice president owned 298,435 shares in the company, valued at $5,968,700. This represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Stephen J. Altemus sold 12,669 shares of the business’s stock in a transaction on 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 in the company, valued at $20,528,040. This represents a 1.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Analysts Set New Price Targets

A number of equities analysts have issued reports on LUNR shares. 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. B. Riley increased their price objective on Intuitive Machines from $14.00 to $20.00 and gave the stock a “buy” rating in a report on Monday, December 22nd. Stifel Nicolaus set a $20.00 target price on Intuitive Machines and gave the company a “hold” rating in a research note on Friday, January 9th. Deutsche Bank Aktiengesellschaft set a $18.00 price target on Intuitive Machines and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Zacks Research upgraded shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a report on Thursday, November 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Intuitive Machines Price Performance

The stock has a market capitalization of $3.56 billion, a P/E ratio of -8.00 and a beta of 1.37. The company’s 50-day simple moving average is $12.77 and its 200-day simple moving average is $11.40.

Institutional Investors Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently modified their holdings of LUNR. ARK Investment Management LLC raised its stake in Intuitive Machines by 56.1% in the second quarter. ARK Investment Management LLC now owns 1,158,775 shares of the company’s stock valued at $12,596,000 after buying an additional 416,337 shares during the period. SG Americas Securities LLC bought a new stake in Intuitive Machines in the 3rd quarter valued at $3,134,000. Ensign Peak Advisors Inc bought a new stake in Intuitive Machines in the 2nd quarter valued at $373,000. Voya Investment Management LLC lifted its holdings in Intuitive Machines by 56.1% during the 3rd quarter. Voya Investment Management LLC now owns 2,656,684 shares of the company’s stock valued at $27,948,000 after purchasing an additional 954,778 shares during the last quarter. Finally, Intech Investment Management LLC boosted its position in Intuitive Machines by 96.6% during the second quarter. Intech Investment Management LLC now owns 77,390 shares of the company’s stock worth $841,000 after purchasing an additional 38,017 shares during the period. 72.21% of the stock is 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.