Kamal Ghaffarian, a director and significant shareholder of Intuitive Machines, Inc. (NASDAQ:LUNR), recently sold shares of the company amounting to approximately $1.4 million. The transaction, which occurred on November 4, 2024, involved the sale of 177,734 shares of Class A Common Stock at a weighted average price of $7.9314 per share. The shares were sold in multiple transactions with prices ranging from $7.555 to $8.1150.
The sale was conducted by Ghaffarian Enterprises, LLC, under a pre-established Rule 10b5-1 trading plan adopted on March 22, 2024. Following this transaction, Ghaffarian holds 3,494,768 shares of Class A Common Stock through indirect ownership.
Kamal Ghaffarian, through various entities, remains a significant stakeholder in Intuitive Machines, holding substantial positions in both Class A and Class C Common Stock, as well as Common Units of Intuitive Machines, LLC.
In other recent news, Intuitive Machines Inc. has secured a significant contract with NASA worth up to $4.82 billion for the Near Space Network Services (NSNS) program. This development has prompted B.Riley to raise its price target for Intuitive Machines from $8.00 to $12.00, reiterating a Buy rating on the stock. The firm also adjusted its FY26 revenue and EBITDA estimates for the company from $496 million/$40 million to $507 million/$42 million.
Additionally, the company reported a Q2 2024 revenue of $41.4 million, leading to an upward adjustment in its full-year revenue forecast to a range of $210 million to $240 million. In other recent developments, the company secured a $116.9 million contract from NASA to deliver six scientific and technological payloads to the Moon’s South Pole under the Commercial Lunar Payload Services initiative.
Analyst firms Roth/MKM, Canaccord Genuity, and Benchmark have maintained their Buy ratings on the company’s stock, with Canaccord Genuity maintaining a price target of $11.00 and Benchmark reaffirming a $10.00 price target. These recent developments are expected to contribute to the company’s estimated revenues of $465 million in 2025.
InvestingPro Insights
Intuitive Machines, Inc. (NASDAQ:LUNR) has been experiencing significant market attention, as reflected in its recent stock performance. According to InvestingPro data, LUNR has shown a strong return over the last three months, with a remarkable 140.82% price total return. This aligns with the timing of Kamal Ghaffarian’s recent stock sale, suggesting he may be capitalizing on the stock’s upward momentum.
Despite the recent insider sale, InvestingPro Tips indicate that analysts anticipate sales growth for LUNR in the current year. This positive outlook is supported by the company’s impressive revenue growth, which stands at 86.74% for the last twelve months as of Q2 2024. However, investors should note that LUNR operates with negative gross profit margins and is not expected to be profitable this year, according to InvestingPro Tips.
The company’s market capitalization is currently around $995 million, reflecting its status as a growing but still relatively small player in its industry. LUNR’s stock generally trades with high price volatility, which could explain the wide range of prices at which Ghaffarian’s shares were sold.
For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for LUNR, providing a deeper understanding of the company’s financial health and market position.
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