Intuitive Machines (NASDAQ:LUNR) Trading Down 5.1% After Insider Selling

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) dropped 5.1% on Wednesday following insider selling activity. The company traded as low as $19.80 and last traded at $20.47. Approximately 2,936,223 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 13,990,390 shares. The stock had previously closed at $21.58.

Specifically, insider Steven Vontur sold 9,266 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $22.50, for a total transaction of $208,485.00. Following the transaction, the insider now directly owns 98,656 shares of the company’s stock, valued at $2,219,760. This represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Analyst Upgrades and Downgrades

LUNR has been the topic of several research analyst reports. Canaccord Genuity Group upped their target price on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. Bank of America initiated coverage on shares of Intuitive Machines in a research report on Wednesday. They set an “underperform” rating and a $16.00 price objective on the stock. Benchmark lifted their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Cantor Fitzgerald increased their price target on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.83.

Intuitive Machines Price Performance

The company has a market capitalization of $2.75 billion, a P/E ratio of -6.67 and a beta of 0.92. The firm’s 50-day moving average is $17.33 and its 200-day moving average is $10.67.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC bought a new position in Intuitive Machines in the 2nd quarter worth $536,000. SG Americas Securities LLC purchased a new stake in Intuitive Machines in the third quarter worth about $93,000. Creative Planning bought a new position in shares of Intuitive Machines in the third quarter worth about $105,000. Waldron Private Wealth LLC purchased a new position in shares of Intuitive Machines during the 3rd quarter valued at about $83,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in shares of Intuitive Machines during the 3rd quarter valued at about $189,000. 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.