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

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) dropped 4.4% during trading on Wednesday following insider selling activity. The company traded as low as $20.10 and last traded at $20.2520. Approximately 3,437,438 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 12,794,967 shares. The stock had previously closed at $21.19.

Specifically, SVP Timothy Price Crain II sold 24,155 shares of the firm’s stock in a transaction on Friday, January 16th. The stock was sold at an average price of $20.04, for a total transaction of $484,066.20. Following the completion of the transaction, the senior vice president owned 298,435 shares of the company’s stock, valued at approximately $5,980,637.40. This trade represents a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Timothy Price Crain II sold 170,185 shares of the company’s stock in a transaction on Thursday, January 15th. The shares were sold at an average price of $20.06, for a total value of $3,413,911.10. Following the completion of the sale, the senior vice president owned 298,435 shares in the company, valued at $5,986,606.10. This represents a 36.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In related news, CEO Stephen J. Altemus sold 58,828 shares of Intuitive Machines stock in a transaction dated Friday, January 16th. The stock was sold at an average price of $20.03, for a total transaction of $1,178,324.84. Following the completion of the sale, the chief executive officer owned 1,026,402 shares in the company, valued at approximately $20,558,832.06. This trade represents a 5.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LUNR shares. Cantor Fitzgerald restated an “overweight” rating on shares of Intuitive Machines in a report on Wednesday, December 3rd. Zacks Research raised shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. Deutsche Bank Aktiengesellschaft set a $18.00 target price on shares of Intuitive Machines and gave the stock a “buy” rating in a research report on Friday, October 17th. Canaccord Genuity Group boosted their price target on Intuitive Machines from $15.50 to $22.50 and gave the company a “buy” rating in a report on Monday, January 12th. Finally, B. Riley raised 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. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Intuitive Machines has an average rating of “Moderate Buy” and a consensus target price of $16.73.

Intuitive Machines Price Performance

The stock has a market cap of $3.71 billion, a PE ratio of -8.34 and a beta of 1.37. The stock has a 50-day simple moving average of $14.13 and a 200-day simple moving average of $11.81.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of LUNR. Palisades Investment Partners LLC grew its stake in Intuitive Machines by 2.1% during the fourth quarter. Palisades Investment Partners LLC now owns 406,999 shares of the company’s stock worth $6,606,000 after buying an additional 8,428 shares during the period. Wealthcare Advisory Partners LLC acquired a new position in shares of Intuitive Machines during the 4th quarter valued at $194,000. CoreCap Advisors LLC purchased a new stake in Intuitive Machines during the 4th quarter worth $104,000. Green Alpha Advisors LLC purchased a new stake in Intuitive Machines during the 4th quarter worth $468,000. Finally, GAMMA Investing LLC increased 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 purchasing an additional 781 shares in the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

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.