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

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price gapped down prior to trading 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 trading hands.

Analysts Set New Price Targets

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

Intuitive Machines Price Performance

The firm has a market cap of $2.05 billion, a price-to-earnings ratio of -4.96 and a beta of 0.92. The company’s 50 day simple moving average is $19.13 and its 200 day simple moving average is $12.29.

Insider Buying and Selling

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $15.04, for a total transaction of $5,684,713.92. Following the completion of the transaction, the director now owns 3,494,768 shares in the company, valued at $52,561,310.72. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Steven Vontur sold 9,266 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $22.50, for a total transaction of $208,485.00. Following the completion of the sale, the insider now owns 98,656 shares in the company, valued at $2,219,760. The trade was a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 771,632 shares of company stock valued at $12,947,078 in the last three months. 73.68% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

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