Intuitive Machines (NASDAQ:LUNR) Shares Down 5.1% on Insider Selling

Intuitive Machines, Inc. (NASDAQ:LUNR) traded down 5.1% during trading on Wednesday following insider selling activity. The company traded as low as $19.80 and last traded at $20.47. 2,936,223 shares traded hands during mid-day trading, a decline of 79% from the average session 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 that occurred on Friday, January 31st. The stock was sold at an average price of $22.50, for a total value of $208,485.00. Following the completion of the transaction, the insider now directly owns 98,656 shares in the company, valued at $2,219,760. This represents a 8.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Bank of America assumed coverage on Intuitive Machines in a research report on Wednesday. They set an “underperform” rating and a $16.00 target price for the company. Benchmark increased their target price on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Canaccord Genuity Group increased their target price on Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Finally, Cantor Fitzgerald increased their target price on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.83.

Intuitive Machines Stock Performance

The company has a fifty day moving average of $17.33 and a two-hundred day moving average of $10.67. The company has a market cap of $2.88 billion, a PE ratio of -6.96 and a beta of 0.92.

Institutional Trading of Intuitive Machines

A number of hedge funds and other institutional investors have recently bought and sold shares of LUNR. Squarepoint Ops LLC purchased a new stake in Intuitive Machines in the second quarter worth $536,000. SG Americas Securities LLC purchased a new stake in Intuitive Machines in the third quarter worth $93,000. Creative Planning purchased a new stake in Intuitive Machines in the third quarter worth $105,000. Waldron Private Wealth LLC purchased a new stake in Intuitive Machines in the third quarter worth $83,000. Finally, Hennion & Walsh Asset Management Inc. purchased a new stake in Intuitive Machines in the third quarter worth $189,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

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.