Intuitive Machines (NASDAQ:LUNR) Shares Down 0.3% on Insider Selling

Intuitive Machines, Inc. (NASDAQ:LUNR) shares were down 0.3% on Wednesday following insider selling activity. The company traded as low as $8.36 and last traded at $8.55. Approximately 3,152,380 shares traded hands during trading, a decline of 64% from the average daily volume of 8,719,884 shares. The stock had previously closed at $8.58.

Specifically, Director Kamal Seyed Ghaffarian sold 344,893 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $8.02, for a total transaction of $2,766,041.86. Following the transaction, the director now directly owns 3,494,768 shares of the company’s stock, valued at $28,028,039.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LUNR. B. Riley increased their price objective on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research note on Monday, September 30th. Benchmark reissued a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday, September 18th. Finally, Roth Mkm reissued a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday, September 18th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $10.60.

Intuitive Machines Trading Up 0.9 %

The company has a market capitalization of $995.81 million, a price-to-earnings ratio of 19.95 and a beta of 0.34. The company’s 50 day simple moving average is $6.61 and its 200-day simple moving average is $5.25.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. The company had revenue of $41.41 million for the quarter, compared to analysts’ expectations of $43.00 million. Sell-side analysts anticipate that Intuitive Machines, Inc. will post 0.47 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Squarepoint Ops LLC purchased a new position in Intuitive Machines in the second quarter valued at approximately $536,000. Vanguard Group Inc. grew its position in shares of Intuitive Machines by 250.0% during the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after buying an additional 429,531 shares in the last quarter. Wedbush Securities Inc. acquired a new stake in shares of Intuitive Machines during the second quarter worth approximately $35,000. XTX Topco Ltd acquired a new stake in shares of Intuitive Machines during the second quarter worth approximately $164,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Intuitive Machines during the second quarter worth approximately $272,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

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.