Intuitive Machines (NASDAQ:LUNR) Shares Gap Down – Here’s What Happened

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) gapped down before the market opened on Friday . The stock had previously closed at $14.40, but opened at $13.18. Intuitive Machines shares last traded at $14.06, with a volume of 4,006,868 shares.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LUNR. Cantor Fitzgerald boosted their target price on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Bank of America assumed coverage on Intuitive Machines in a research report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price target on the stock. Benchmark increased their price objective on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Canaccord Genuity Group raised their target price on shares of Intuitive Machines from $17.50 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intuitive Machines in a research report on Tuesday. They issued a “hold” rating and a $18.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.14.

Intuitive Machines Stock Performance

The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -4.96 and a beta of 0.92. The business has a 50-day simple moving average of $19.13 and a two-hundred day simple moving average of $12.29.

Insider Buying and Selling

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the sale, the director now owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven Vontur sold 4,528 shares of Intuitive Machines stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the completion of the sale, the insider now directly owns 104,272 shares in the company, valued at approximately $2,043,731.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 771,632 shares of company stock valued at $12,947,078 over the last three months. 73.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in LUNR. FORA Capital LLC purchased a new stake in shares of Intuitive Machines during the 3rd quarter worth $458,000. Geode Capital Management LLC grew its stake in Intuitive Machines by 31.2% in the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after acquiring an additional 222,136 shares during the last quarter. Van ECK Associates Corp purchased a new position in Intuitive Machines during the 4th quarter valued at about $3,403,000. Entropy Technologies LP acquired a new position in Intuitive Machines during the fourth quarter worth about $895,000. Finally, Spire Wealth Management purchased a new stake in shares of Intuitive Machines in the fourth quarter valued at about $469,000. Institutional investors and hedge funds 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.