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

Intuitive Machines, Inc. (NASDAQ:LUNR) shares gapped up before the market opened on Monday . The stock had previously closed at $7.09, but opened at $7.64. Intuitive Machines shares last traded at $8.33, with a volume of 7,211,179 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LUNR. Roth Capital set a $20.00 price target on Intuitive Machines in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft started coverage on Intuitive Machines in a report on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price target for the company. Canaccord Genuity Group decreased their price target on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating for the company in a report on Friday, March 7th. Roth Mkm reduced 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. Finally, Bank of America initiated coverage on Intuitive Machines in a research note on Wednesday, February 5th. They set an “underperform” rating and a $16.00 target price for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.38.

Intuitive Machines Trading Up 24.1 %

The business has a fifty day moving average of $16.22 and a 200 day moving average of $12.90. The company has a market capitalization of $1.24 billion, a PE ratio of -2.99 and a beta of 1.01.

Insider Activity at Intuitive Machines

In other news, insider Steven Vontur sold 9,266 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $22.50, for a total transaction of $208,485.00. Following the sale, the insider now owns 98,656 shares of the company’s stock, valued at approximately $2,219,760. This trade represents a 8.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’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 value of $6,935,804.55. Following the sale, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 392,713 shares of company stock worth $7,250,066 in the last three months. 73.68% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Intuitive Machines by 33.6% during the fourth quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company’s stock worth $73,503,000 after purchasing an additional 1,017,706 shares during the last quarter. Two Sigma Investments LP purchased a new stake in Intuitive Machines in the fourth quarter valued at approximately $33,255,000. Renaissance Technologies LLC lifted its stake in Intuitive Machines by 99.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company’s stock valued at $22,170,000 after buying an additional 609,118 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Intuitive Machines by 3,991.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company’s stock valued at $21,102,000 after buying an additional 1,133,581 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Intuitive Machines by 20.5% in the fourth quarter. Geode Capital Management LLC now owns 1,125,005 shares of the company’s stock valued at $20,437,000 after buying an additional 191,733 shares during the last quarter. Hedge funds and other institutional investors 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.