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

Intuitive Machines, Inc. (NASDAQ:LUNR) gapped down prior to trading on Monday . The stock had previously closed at $12.36, but opened at $11.75. Intuitive Machines shares last traded at $11.79, with a volume of 1,506,627 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on LUNR. B. Riley restated a “buy” rating on shares of Intuitive Machines in a research report on Tuesday, March 25th. Roth Mkm reduced their price target on shares of Intuitive Machines from $20.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft started coverage on shares of Intuitive Machines in a research report on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price target on the stock. Benchmark reissued a “buy” rating and issued a $16.00 target price on shares of Intuitive Machines in a research note on Tuesday, March 25th. Finally, Cantor Fitzgerald boosted their price target on shares of Intuitive Machines from $13.00 to $16.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Intuitive Machines currently has a consensus rating of “Moderate Buy” and an average target price of $16.44.

Intuitive Machines Stock Down 3.4%

The company has a fifty day simple moving average of $8.32 and a two-hundred day simple moving average of $13.19. The stock has a market capitalization of $2.13 billion, a P/E ratio of -4.07 and a beta of 1.32.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.10). The firm had revenue of $62.52 million for the quarter, compared to the consensus estimate of $66.07 million. As a group, equities analysts forecast that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.

Insider Activity

In other Intuitive Machines news, CFO Peter Mcgrath sold 72,168 shares of Intuitive Machines stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $12.00, for a total value of $866,016.00. Following the completion of the sale, the chief financial officer now owns 366,824 shares in the company, valued at $4,401,888. The trade was a 16.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 161,016 shares of the business’s stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $12.10, for a total transaction of $1,948,293.60. Following the completion of the transaction, the director now owns 3,494,768 shares of the company’s stock, valued at $42,286,692.80. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 271,090 shares of company stock valued at $3,106,565 in the last quarter. Company insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Institutional investors have recently modified their holdings of the company. Van ECK Associates Corp bought a new position in shares of Intuitive Machines in the fourth quarter valued at $3,403,000. Entropy Technologies LP bought a new position in shares of Intuitive Machines in the fourth quarter valued at $895,000. Spire Wealth Management purchased a new stake in shares of Intuitive Machines in the fourth quarter valued at about $469,000. Nations Financial Group Inc. IA ADV bought a new position in shares of Intuitive Machines during the 4th quarter worth approximately $244,000. Finally, Headlands Technologies LLC lifted its position in shares of Intuitive Machines by 161,529.8% during the 4th quarter. Headlands Technologies LLC now owns 244,061 shares of the company’s stock worth $4,432,000 after buying an additional 243,910 shares in the last quarter. 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.