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

Intuitive Machines, Inc. (NASDAQ:LUNR)’s share price gapped down prior to trading on Friday . The stock had previously closed at $45.70, but opened at $42.65. Intuitive Machines shares last traded at $39.8280, with a volume of 5,512,066 shares.

Analysts Set New Price Targets

LUNR has been the topic of a number of research reports. Roth Mkm upped their target price on Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Cantor Fitzgerald increased their price target on Intuitive Machines from $26.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, May 19th. KeyCorp upped their price objective on Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $34.00 price objective on shares of Intuitive Machines in a research note on Wednesday, May 20th. Finally, Stifel Nicolaus set a $32.00 price target on Intuitive Machines in a research note on Friday, May 15th. Eight equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Intuitive Machines has an average rating of “Hold” and a consensus price target of $31.50.

Intuitive Machines Trading Down 9.8%

The firm has a fifty day simple moving average of $26.81 and a two-hundred day simple moving average of $19.50. The stock has a market cap of $8.94 billion, a PE ratio of -46.59 and a beta of 1.47.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The business had revenue of $186.73 million during the quarter, compared to analysts’ expectations of $202.95 million. Equities analysts forecast that Intuitive Machines, Inc. will post -0.44 earnings per share for the current year.

Insider Transactions at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 150,000 shares of the stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $17.55, for a total transaction of $2,632,500.00. Following the transaction, the senior vice president directly owned 359,726 shares in the company, valued at approximately $6,313,191.30. This represents a 29.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Stephen J. Altemus sold 13,751 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total value of $324,661.11. Following the transaction, the chief executive officer owned 1,162,495 shares in the company, valued at $27,446,506.95. This trade represents a 1.17% decrease in their ownership of the stock. 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. Insiders have sold a total of 1,048,206 shares of company stock valued at $24,782,839 over the last 90 days. Company insiders own 54.10% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC bought a new position in Intuitive Machines during the 4th quarter worth approximately $28,000. State of Wyoming purchased a new position in shares of Intuitive Machines in the 1st quarter valued at approximately $39,000. GAMMA Investing LLC lifted its stake in shares of Intuitive Machines by 41.5% in the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after purchasing an additional 781 shares during the period. Larson Financial Group LLC raised its stake in Intuitive Machines by 63.2% during the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock valued at $43,000 after buying an additional 1,016 shares during the last quarter. Finally, CWM LLC raised its stake in Intuitive Machines by 406.4% during the fourth quarter. CWM LLC now owns 2,912 shares of the company’s stock valued at $47,000 after buying an additional 2,337 shares during the last quarter. 72.21% of the stock is currently owned by institutional investors.

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.