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

Intuitive Machines, Inc. (NASDAQ:LUNR) gapped down prior to trading on Monday . The stock had previously closed at $18.39, but opened at $17.75. Intuitive Machines shares last traded at $17.79, with a volume of 4,297,655 shares trading hands.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LUNR shares. Roth Mkm restated a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday, September 18th. Benchmark lifted their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. B. Riley lifted their price objective on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Cantor Fitzgerald lifted their price target on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Canaccord Genuity Group decreased their target price on shares of Intuitive Machines from $19.00 to $17.50 and set a “buy” rating on the stock in a research report on Friday, December 6th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $14.10.

Intuitive Machines Trading Down 0.3 %

The firm has a market cap of $2.57 billion, a price-to-earnings ratio of -6.23 and a beta of 0.93. The firm has a 50 day moving average price of $11.92 and a 200-day moving average price of $7.56.

Insider Buying and Selling at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 138,568 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $11.10, for a total transaction of $1,538,104.80. Following the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at $10,111,200.90. This represents a 13.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kamal Seyed Ghaffarian sold 344,893 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $8.02, for a total transaction of $2,766,041.86. Following the transaction, the director now directly owns 3,494,768 shares in the company, valued at approximately $28,028,039.36. This represents a 8.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,702,731 shares of company stock valued at $18,475,694 over the last quarter. Corporate insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in Intuitive Machines by 31.2% in the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after purchasing an additional 222,136 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of Intuitive Machines in the second quarter valued at about $536,000. Bank of New York Mellon Corp acquired a new position in Intuitive Machines during the 2nd quarter worth approximately $272,000. Stifel Financial Corp acquired a new position in Intuitive Machines during the 3rd quarter worth approximately $525,000. Finally, FORA Capital LLC acquired a new stake in Intuitive Machines in the third quarter valued at approximately $458,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

About Intuitive Machines

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.