Shares of Intuitive Machines (NASDAQ: LUNR) dropped about 3% during regular trading on Wednesday after two top executives disclosed the sale of company stock worth a combined $481,304.
Peter McGrath, Senior Vice President and Chief Financial Officer, sold 37,906 shares of Class A Common Stock on April 15, according to a Form 4 filing with the U.S. Securities and Exchange Commission. The shares were sold at an average price of $7.71, totaling approximately $292,255.
The transaction was carried out under a Rule 10b5-1 trading plan that McGrath adopted in December 2024. Such plans allow company insiders to sell stock at predetermined times to avoid accusations of insider trading.
Following the sale, McGrath retains direct ownership of 438,992 shares of Intuitive Machines.
In a separate move, Anna Chiara Jones, the General Counsel and Corporate Secretary, sold 23,974 shares in two transactions on April 14 and 15. Her sales totaled $189,049, with share prices ranging from $7.71 to $8.00. These transactions were also made under a pre-established Rule 10b5-1 trading plan, adopted on December 13, 2024. After the sales, Jones continues to hold 196,548 shares in the company.
Despite the insider stock sales, analysts continue to have a positive outlook on the company’s prospects.
Cantor Fitzgerald recently reiterated its Overweight rating on Intuitive Machines (NASDAQ: LUNR) and maintained a $13 price target. The firm expressed confidence in the company’s revenue potential, particularly from space contracts such as OMES, NSN, and LTV programs.
Analysts also expect the company to secure more than 90% of the revenue from its upcoming IM-2 lunar mission, despite recent setbacks in its lunar exploration program.
Salman Akhtar is a finance, stocks, and technology journalist with years of experience across various news organizations. He has contributed his expertise to outlets such as 24NewsHD, TrimFeed, The Voice Pakistan, and TheTechBasic. Salman is passionate about making complex topics accessible to a broad audience. His dedication to delivering accurate and timely information has established him as a trusted voice in the industry. Read Full Bio
