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

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $14.15, but opened at $11.54. Intuitive Machines shares last traded at $12.35, with a volume of 18,958,751 shares trading hands.

Wall Street Analyst Weigh In

LUNR has been the subject of several research reports. Cantor Fitzgerald increased their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Benchmark increased their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Canaccord Genuity Group lifted their price target on shares of Intuitive Machines from $11.00 to $12.50 and gave the stock a “buy” rating in a report on Friday, November 15th. B. Riley lifted their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Roth Mkm reiterated a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $13.10.

Intuitive Machines Stock Down 10.5 %

The business’s 50 day moving average is $9.76 and its two-hundred day moving average is $6.43. The firm has a market cap of $1.78 billion, a P/E ratio of -3.98 and a beta of 0.93.

Insider Buying and Selling

In other Intuitive Machines news, SVP Timothy Price Crain II sold 197,637 shares of Intuitive Machines stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $6.05, for a total value of $1,195,703.85. Following the completion of the sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at approximately $2,195,000.50. The trade was a 35.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Steven Vontur sold 10,274 shares of Intuitive Machines stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $5.58, for a total transaction of $57,328.92. Following the completion of the sale, the chief financial officer now directly owns 117,500 shares of the company’s stock, valued at approximately $655,650. This trade represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,762,371 shares of company stock valued at $38,664,183 over the last quarter. Insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC increased its position in shares of Intuitive Machines by 275.2% during the third quarter. Barclays PLC now owns 37,323 shares of the company’s stock worth $300,000 after acquiring an additional 27,376 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Intuitive Machines by 31.2% during the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after acquiring an additional 222,136 shares in the last quarter. Savoie Capital LLC bought a new stake in shares of Intuitive Machines during the third quarter worth about $112,000. State Street Corp increased its position in shares of Intuitive Machines by 1.3% during the third quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after acquiring an additional 7,538 shares in the last quarter. Finally, Stifel Financial Corp bought a new stake in shares of Intuitive Machines during the third quarter worth about $525,000. 72.21% of the stock is owned by institutional investors.

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.