Stephen J. Altemus Sells 250,000 Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) Stock

Intuitive Machines, Inc. (NASDAQ:LUNR) CEO Stephen J. Altemus sold 250,000 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $9.01, for a total transaction of $2,252,500.00. Following the sale, the chief executive officer now owns 910,919 shares in the company, valued at $8,207,380.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Intuitive Machines Price Performance

NASDAQ LUNR opened at $9.15 on Friday. The firm’s fifty day moving average price is $4.81 and its 200 day moving average price is $4.93. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 22.32 and a beta of 0.26. Intuitive Machines, Inc. has a 12 month low of $2.09 and a 12 month high of $13.25.

Intuitive Machines (NASDAQ:LUNR) last posted its earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The company had revenue of $41.41 million during the quarter, compared to analysts’ expectations of $43.00 million. As a group, sell-side analysts forecast that Intuitive Machines, Inc. will post 0.47 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Intuitive Machines by 250.0% during the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after purchasing an additional 429,531 shares during the last quarter. Wedbush Securities Inc. purchased a new position in Intuitive Machines during the 2nd quarter worth $35,000. Sanders Morris Harris LLC purchased a new position in Intuitive Machines during the 1st quarter worth $119,000. Inscription Capital LLC purchased a new position in Intuitive Machines during the 1st quarter worth $304,000. Finally, Tealwood Asset Management Inc. purchased a new position in Intuitive Machines during the 1st quarter worth $131,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday. 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 report on Thursday. Benchmark reissued a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday. Finally, Roth Mkm reissued a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Intuitive Machines has an average rating of “Buy” and a consensus target price of $10.60.

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.