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

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) gapped down prior to trading on Thursday . The stock had previously closed at $35.68, but opened at $32.16. Intuitive Machines shares last traded at $35.0150, with a volume of 6,721,160 shares.

Analyst Ratings Changes

Several equities research analysts recently issued reports on LUNR shares. Roth Mkm lifted their price objective on shares of Intuitive Machines from $25.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Stifel Nicolaus boosted their price target on Intuitive Machines from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Monday, March 23rd. B. Riley Financial reiterated a “buy” rating on shares of Intuitive Machines in a research note on Tuesday, February 17th. Cantor Fitzgerald increased their price objective on Intuitive Machines from $16.00 to $26.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.55.

Intuitive Machines Price Performance

The company has a market capitalization of $7.90 billion, a P/E ratio of -49.19 and a beta of 1.47. The stock’s fifty day simple moving average is $22.74 and its 200-day simple moving average is $17.55.

Intuitive Machines (NASDAQ:LUNR) last released its earnings results on Thursday, March 19th. The company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The firm had revenue of $44.79 million for the quarter, compared to analyst estimates of $53.37 million. On average, research analysts predict that Intuitive Machines, Inc. will post -0.04 earnings per share for the current year.

Insider Transactions at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 141,909 shares of Intuitive Machines stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $25.14, for a total transaction of $3,567,592.26. Following the sale, the director directly owned 3,494,768 shares in the company, valued at approximately $87,858,467.52. The trade was a 3.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy Price Crain II sold 8,447 shares of the stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total transaction of $199,433.67. Following the completion of the transaction, the senior vice president directly owned 351,279 shares of the company’s stock, valued at $8,293,697.19. This trade represents a 2.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 993,100 shares of company stock valued at $21,312,171. Company insiders own 54.10% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds have recently modified their holdings of the stock. Liberty One Investment Management LLC acquired a new stake in Intuitive Machines in the 1st quarter valued at $254,000. State of Wyoming bought a new position in shares of Intuitive Machines during the first quarter valued at $39,000. First Trust Advisors LP boosted its stake in shares of Intuitive Machines by 28.8% in the 1st quarter. First Trust Advisors LP now owns 657,318 shares of the company’s stock valued at $12,200,000 after purchasing an additional 147,095 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Intuitive Machines by 34.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock valued at $52,000 after purchasing an additional 712 shares in the last quarter. Finally, Amova Asset Management Americas Inc. grew its holdings in shares of Intuitive Machines by 5.1% in the 1st quarter. Amova Asset Management Americas Inc. now owns 553,486 shares of the company’s stock worth $10,256,000 after purchasing an additional 27,108 shares during the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

About Intuitive Machines

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.