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

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 traded.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Canaccord Genuity Group reduced their target price on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Bank of America assumed coverage on Intuitive Machines in a report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price objective on the stock. 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 Capital set a $20.00 price objective on Intuitive Machines in a report on Friday, March 7th. Finally, Roth Mkm lowered their target price on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Intuitive Machines has an average rating of “Moderate Buy” and a consensus target price of $16.38.

Intuitive Machines Stock Up 3.6 %

The firm has a market cap of $1.02 billion, a price-to-earnings ratio of -2.47 and a beta of 1.01. The business has a 50 day moving average price of $16.67 and a 200-day moving average price of $12.82.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the completion of the sale, the director now owns 3,494,768 shares in the company, valued at $64,128,992.80. This trade represents a 9.76 % 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, insider Steven Vontur sold 4,528 shares of Intuitive Machines stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total value of $88,748.80. Following the completion of the transaction, the insider now owns 104,272 shares of the company’s stock, valued at approximately $2,043,731.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 392,713 shares of company stock worth $7,250,066 in the last 90 days. 73.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. PharVision Advisers LLC acquired a new position in shares of Intuitive Machines in the 4th quarter worth approximately $185,000. Voloridge Investment Management LLC acquired a new position in shares of Intuitive Machines in the 4th quarter worth approximately $3,768,000. Soviero Asset Management LP grew its position in shares of Intuitive Machines by 65.0% in the 4th quarter. Soviero Asset Management LP now owns 330,000 shares of the company’s stock worth $5,993,000 after acquiring an additional 130,000 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Intuitive Machines in the 4th quarter worth approximately $4,971,000. Finally, Two Sigma Investments LP acquired a new position in shares of Intuitive Machines in the 4th quarter worth approximately $33,255,000. 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.