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

Intuitive Machines, Inc. (NASDAQ:LUNR) gapped down prior to trading 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 traded.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Canaccord Genuity Group lowered their target price on Intuitive Machines from $22.00 to $21.00 and set a “buy” rating on the stock in a research note on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on Intuitive Machines in a report on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price objective on the stock. Roth Mkm decreased their target price on shares of Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Roth Capital set a $20.00 price target on shares of Intuitive Machines in a report on Friday, March 7th. Finally, Benchmark reiterated a “buy” rating and issued a $16.00 price objective on shares of Intuitive Machines in a report on Tuesday. 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Intuitive Machines Price Performance

The firm has a market capitalization of $1.13 billion, a P/E ratio of -2.74 and a beta of 1.01. The business has a 50 day moving average price of $15.28 and a 200 day moving average price of $12.92.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Tuesday, March 25th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.12. The business had revenue of $54.66 million during the quarter, compared to the consensus estimate of $72.58 million. As a group, equities analysts expect that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

Insider Activity at Intuitive Machines

In related news, insider Steven Vontur sold 9,266 shares of Intuitive Machines stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $22.50, for a total transaction of $208,485.00. Following the sale, the insider now directly owns 98,656 shares of the company’s stock, valued at $2,219,760. This trade represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 3,494,768 shares in the company, valued at $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. Insiders sold a total of 391,767 shares of company stock worth $7,233,038 in the last ninety days. 73.68% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LUNR. Two Sigma Investments LP acquired a new position in shares of Intuitive Machines in the 4th quarter valued at $33,255,000. D. E. Shaw & Co. Inc. raised its position in Intuitive Machines by 3,991.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company’s stock worth $21,102,000 after purchasing an additional 1,133,581 shares in the last quarter. Vanguard Group Inc. lifted its stake in Intuitive Machines by 33.6% during the fourth quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company’s stock worth $73,503,000 after purchasing an additional 1,017,706 shares during the period. Renaissance Technologies LLC boosted its holdings in Intuitive Machines by 99.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company’s stock valued at $22,170,000 after purchasing an additional 609,118 shares in the last quarter. Finally, Driehaus Capital Management LLC acquired a new position in shares of Intuitive Machines in the 4th quarter worth approximately $9,133,000. 72.21% of the stock is owned by institutional investors.

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.