Kamal Ghaffarian, a director and 10% owner of Intuitive Machines Inc. (NASDAQ: LUNR), sold 141,909 shares of Class A common stock for approximately $2.39 million on August 24, according to an SEC filing.
The shares were sold at a weighted average price of $16.86, with individual transactions ranging from $16.61 to $17.23. An additional 2,137 shares were sold at $17.68 per share. The sale was executed under a Rule 10b5-1 trading plan adopted by Ghaffarian Enterprises, LLC on December 4, 2025.
Intuitive Machines' stock was trading at $16.11 at the time of the report, down more than 10% over the past week despite a 79% gain over the prior year. The company’s Class A common stock is held indirectly by Ghaffarian through GM Enterprises, LLC and Ghaffarian Enterprises, LLC, leaving him with 3,494,768 shares post-transaction.
The sale follows the company’s second-quarter results, which showed revenue of $206 million, a 310% year-over-year increase, but an adjusted EBITDA loss of $13.8 million and a loss per share of $0.29, missing the consensus estimate of a $0.09 loss. Intuitive Machines reaffirmed its fiscal 2026 revenue guidance of $900 million to $1 billion, with expectations for positive adjusted EBITDA.
Analysts have mixed views on the stock. Canaccord maintained a Buy rating with a price target of $39, while Cantor Fitzgerald reduced its target to $32 but kept an Overweight rating. Stifel upgraded the stock to Buy.
