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

Intuitive Machines, Inc. (NASDAQ:LUNR) gapped down prior to trading on Wednesday following insider selling activity. The stock had previously closed at $14.15, but opened at $11.54. Intuitive Machines shares last traded at $12.35, with a volume of 18,958,751 shares.

Specifically, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $15.04, for a total transaction of $5,684,713.92. Following the completion of the transaction, the director now owns 3,494,768 shares in the company, valued at approximately $52,561,310.72. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LUNR. Cantor Fitzgerald lifted their price objective on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Benchmark lifted their price objective on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Canaccord Genuity Group lifted their price objective on Intuitive Machines from $11.00 to $12.50 and gave the company a “buy” rating in a research note on Friday, November 15th. B. Riley lifted their price objective on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Finally, Roth Mkm restated a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $13.10.

Intuitive Machines Trading Down 6.4 %

The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of -4.08 and a beta of 0.93. The company has a fifty day moving average of $9.93 and a 200-day moving average of $6.51.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors have recently bought and sold shares of LUNR. State Street Corp boosted its holdings in shares of Intuitive Machines by 1.3% during the 3rd quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after purchasing an additional 7,538 shares during the last quarter. Waldron Private Wealth LLC acquired a new position in shares of Intuitive Machines during the 3rd quarter worth approximately $83,000. Wedbush Securities Inc. acquired a new position in shares of Intuitive Machines during the 2nd quarter worth approximately $35,000. The Manufacturers Life Insurance Company acquired a new position in shares of Intuitive Machines during the 3rd quarter worth approximately $85,000. Finally, SG Americas Securities LLC acquired a new position in shares of Intuitive Machines during the 3rd quarter worth approximately $93,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Intuitive Machines Company Profile

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.