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

Intuitive Machines, Inc. (NASDAQ:LUNR) shares gapped down before the market opened on Friday . The stock had previously closed at $19.63, but opened at $18.50. Intuitive Machines shares last traded at $18.4020, with a volume of 3,937,357 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LUNR. KeyCorp began coverage on Intuitive Machines in a research note on Thursday, December 18th. They issued an “overweight” rating and a $20.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Intuitive Machines in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 20th. Stifel Nicolaus set a $20.00 target price on shares of Intuitive Machines and gave the stock a “hold” rating in a research note on Friday. Finally, Canaccord Genuity Group dropped their price target on shares of Intuitive Machines from $18.50 to $15.50 and set a “buy” rating on the stock in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Intuitive Machines currently has a consensus rating of “Moderate Buy” and an average target price of $16.42.

Intuitive Machines Stock Down 3.0%

The business’s fifty day moving average is $12.16 and its 200 day moving average is $11.17. The stock has a market cap of $3.43 billion, a PE ratio of -7.66 and a beta of 1.37.

Insider Buying and Selling

In related news, SVP Timothy Price Crain II sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $16.04, for a total value of $3,208,000.00. Following the completion of the transaction, the senior vice president directly owned 298,435 shares of the company’s stock, valued at $4,786,897.40. This trade represents a 40.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Michael Blitzer acquired 100,000 shares of Intuitive Machines stock in a transaction that occurred on Thursday, November 13th. The shares were purchased at an average cost of $8.83 per share, with a total value of $883,000.00. Following the completion of the acquisition, the director owned 1,931,248 shares of the company’s stock, valued at $17,052,919.84. The trade was a 5.46% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 2,850,000 shares of company stock worth $45,886,174 in the last quarter. Company insiders own 39.75% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

A number of large investors have recently bought and sold shares of the stock. Green Alpha Advisors LLC purchased a new stake in shares of Intuitive Machines in the fourth quarter valued at $468,000. GAMMA Investing LLC increased its stake in shares of Intuitive Machines by 41.5% during the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after acquiring an additional 781 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in shares of Intuitive Machines during the 3rd quarter valued at about $123,000. PharVision Advisers LLC purchased a new position in shares of Intuitive Machines during the 3rd quarter worth about $405,000. Finally, XTX Topco Ltd boosted its position in shares of Intuitive Machines by 950.7% in the third quarter. XTX Topco Ltd now owns 193,544 shares of the company’s stock worth $2,036,000 after acquiring an additional 175,124 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

Intuitive Machines Company Profile

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.