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

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) gapped down before the market opened on Tuesday . The stock had previously closed at $7.91, but opened at $7.61. Intuitive Machines shares last traded at $7.35, with a volume of 1,830,379 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LUNR. Roth Mkm dropped 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. Canaccord Genuity Group lowered their target price on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Roth Capital set a $20.00 target price on Intuitive Machines in a report on Friday, March 7th. Deutsche Bank Aktiengesellschaft began coverage on shares of Intuitive Machines in a report on Tuesday, February 25th. They set a “hold” rating and a $18.00 price target for the company. Finally, Bank of America assumed coverage on shares of Intuitive Machines in a research report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 target price for the company. One investment 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $16.38.

Intuitive Machines Trading Down 7.4 %

The business’s 50-day simple moving average is $17.15 and its 200-day simple moving average is $12.85. The company has a market cap of $1.03 billion, a PE ratio of -2.49 and a beta of 1.01.

Insider Activity at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven Vontur sold 4,528 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total transaction of $88,748.80. Following the transaction, the insider now directly owns 104,272 shares in the company, valued at $2,043,731.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 392,713 shares of company stock valued at $7,250,066. Insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LUNR. Tealwood Asset Management Inc. grew its position in Intuitive Machines by 4.5% in the fourth quarter. Tealwood Asset Management Inc. now owns 20,900 shares of the company’s stock valued at $380,000 after acquiring an additional 900 shares during the period. Invesco Ltd. lifted its position in shares of Intuitive Machines by 8.3% during the fourth quarter. Invesco Ltd. now owns 13,449 shares of the company’s stock worth $244,000 after purchasing an additional 1,026 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Intuitive Machines by 10.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,187 shares of the company’s stock valued at $312,000 after purchasing an additional 1,566 shares in the last quarter. Quarry LP bought a new position in Intuitive Machines in the 4th quarter valued at $44,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Intuitive Machines by 3.7% in the 4th quarter. Bank of New York Mellon Corp now owns 70,740 shares of the company’s stock valued at $1,285,000 after buying an additional 2,499 shares during the period. Institutional investors and hedge funds own 72.21% of the company’s stock.

Intuitive Machines Company Profile

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.