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

Intuitive Machines, Inc. (NASDAQ:LUNR)’s stock 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 changing hands.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Stifel Nicolaus set a $32.00 price target on shares of Intuitive Machines in a research report on Friday, May 15th. Zacks Research cut Intuitive Machines from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. KeyCorp upped their price target on Intuitive Machines from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Canaccord Genuity Group increased their target price on Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Finally, B. Riley Financial increased their target price on Intuitive Machines to $45.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Eight analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Intuitive Machines presently has a consensus rating of “Hold” and an average target price of $31.50.

Intuitive Machines Price Performance

The firm’s 50 day moving average is $26.81 and its two-hundred day moving average is $19.50. The firm has a market capitalization of $8.94 billion, a P/E ratio of -46.59 and a beta of 1.47.

Intuitive Machines (NASDAQ:LUNR) last released its 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 company had revenue of $186.73 million for the quarter, compared to analyst estimates of $202.95 million. Analysts anticipate that Intuitive Machines, Inc. will post -0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intuitive Machines news, CFO Peter Mcgrath sold 24,554 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total transaction of $579,719.94. Following the completion of the sale, the chief financial officer owned 401,246 shares of the company’s stock, valued at $9,473,418.06. This trade represents a 5.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Stephen J. Altemus sold 13,751 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $23.61, for a total value of $324,661.11. Following the sale, the chief executive officer directly owned 1,162,495 shares of the company’s stock, valued at $27,446,506.95. This represents a 1.17% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 1,048,206 shares of company stock worth $24,782,839. Company insiders own 54.10% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

A number of hedge funds and other institutional investors have recently modified their holdings of LUNR. PNC Financial Services Group Inc. raised its stake in Intuitive Machines by 34.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock valued at $52,000 after purchasing an additional 712 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Intuitive Machines by 41.5% during the fourth quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock worth $43,000 after purchasing an additional 781 shares during the last quarter. Sigma Planning Corp grew its holdings in shares of Intuitive Machines by 8.8% during the fourth quarter. Sigma Planning Corp now owns 10,947 shares of the company’s stock worth $178,000 after purchasing an additional 886 shares during the last quarter. Nations Financial Group Inc. IA ADV grew its holdings in shares of Intuitive Machines by 9.9% during the first quarter. Nations Financial Group Inc. IA ADV now owns 11,080 shares of the company’s stock worth $206,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Intuitive Machines by 63.2% in the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after acquiring an additional 1,016 shares during the period. 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.