Intuitive Machines (NASDAQ:LUNR) Shares Gap Down – What’s Next?

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $8.79, but opened at $8.50. Intuitive Machines shares last traded at $8.58, with a volume of 1,919,787 shares.

Wall Street Analyst Weigh In

A number of research firms have issued reports on LUNR. Bank of America initiated coverage on shares of Intuitive Machines in a report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price objective for the company. Roth Mkm cut their price target on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Cantor Fitzgerald reduced their price target on Intuitive Machines from $15.00 to $13.00 and set an “overweight” rating on the stock in a research report on Tuesday. Deutsche Bank Aktiengesellschaft initiated coverage on Intuitive Machines in a research report on Tuesday, February 25th. They set a “hold” rating and a $18.00 target price for the company. Finally, Roth Capital set a $20.00 price target on shares of Intuitive Machines in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuitive Machines presently has an average rating of “Moderate Buy” and an average target price of $16.00.

Intuitive Machines Stock Performance

The firm has a market cap of $1.22 billion, a P/E ratio of -2.94 and a beta of 1.01. The company’s 50 day moving average is $15.70 and its 200 day moving average is $12.93.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.12. The firm had revenue of $54.66 million during the quarter, compared to the consensus estimate of $72.58 million. On average, equities research analysts anticipate that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

Insider Buying and Selling at Intuitive Machines

In other news, insider Steven Vontur sold 9,266 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $22.50, for a total value of $208,485.00. Following the completion of the transaction, the insider now owns 98,656 shares of the company’s stock, valued at $2,219,760. This represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the sale, the director now owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 391,767 shares of company stock worth $7,233,038. 73.68% of the stock is currently owned by insiders.

Institutional Trading of Intuitive Machines

Institutional investors have recently modified their holdings of the business. FORA Capital LLC bought a new stake in shares of Intuitive Machines in the 3rd quarter valued at about $458,000. Geode Capital Management LLC boosted its holdings in Intuitive Machines by 31.2% in the third 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 acquired a new stake in Intuitive Machines during the 4th quarter valued at approximately $3,403,000. Entropy Technologies LP bought a new position in Intuitive Machines during the 4th quarter worth approximately $895,000. Finally, Spire Wealth Management acquired a new position in shares of Intuitive Machines in the 4th quarter worth approximately $469,000. Institutional investors own 72.21% of the company’s stock.

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.