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

Intuitive Machines, Inc. (NASDAQ:LUNR) shares gapped down before the market opened on Wednesday . The stock had previously closed at $14.15, but opened at $11.54. Intuitive Machines shares last traded at $12.35, with a volume of 18,958,751 shares changing hands.

Analysts Set New Price Targets

LUNR has been the subject of a number of analyst reports. Benchmark lifted their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Roth Mkm reissued a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday, September 18th. B. Riley lifted their price objective on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Canaccord Genuity Group lifted their price objective on shares of Intuitive Machines from $11.00 to $12.50 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Cantor Fitzgerald lifted their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $13.10.

Intuitive Machines Stock Performance

The firm has a market cap of $1.78 billion, a P/E ratio of -3.98 and a beta of 0.93. The firm’s fifty day moving average is $9.76 and its 200 day moving average is $6.43.

Insider Buying and Selling

In other Intuitive Machines news, CFO Steven Vontur sold 10,274 shares of Intuitive Machines stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $5.58, for a total value of $57,328.92. Following the completion of the sale, the chief financial officer now owns 117,500 shares in the company, valued at $655,650. The trade was a 8.04 % 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 570,705 shares of Intuitive Machines stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $6.08, for a total transaction of $3,469,886.40. Following the completion of the sale, the director now owns 3,551,606 shares of the company’s stock, valued at $21,593,764.48. This trade represents a 13.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,762,371 shares of company stock valued at $38,664,183. Company insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Intuitive Machines by 250.0% during the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after acquiring an additional 429,531 shares during the period. Geode Capital Management LLC lifted its holdings 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 during the period. Squarepoint Ops LLC bought a new stake in shares of Intuitive Machines during the 2nd quarter worth approximately $536,000. Bank of New York Mellon Corp bought a new stake in shares of Intuitive Machines during the 2nd quarter worth approximately $272,000. Finally, Stifel Financial Corp bought a new stake in shares of Intuitive Machines during the 3rd quarter worth approximately $525,000. 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.