Intuitive Machines (NASDAQ:LUNR) Shares Gap Down - What's Next?

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $8.79, but opened at $8.50. Intuitive Machines shares last traded at $8.58, with a volume of 1,919,787 shares trading hands.

Analysts Set New Price Targets

LUNR has been the subject of a number of research reports. Bank of America initiated coverage on Intuitive Machines in a report on Wednesday, February 5th. They issued an "underperform" rating and a $16.00 price objective for the company. Roth Capital set a $20.00 target price on Intuitive Machines in a research note on Friday, March 7th. Roth Mkm decreased their price target on shares of Intuitive Machines from $20.00 to $12.00 and set a "buy" rating on the stock in a research note on Tuesday, March 11th. Cantor Fitzgerald cut their price objective on shares of Intuitive Machines from $15.00 to $13.00 and set an "overweight" rating for the company in a research note on Tuesday, March 25th. Finally, Benchmark reiterated a "buy" rating and issued a $16.00 target price on shares of Intuitive Machines in a research report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $16.00.

Intuitive Machines Trading Up 8.7 %

The stock has a 50 day simple moving average of $14.75 and a 200-day simple moving average of $13.04. The firm has a market capitalization of $1.14 billion, a P/E ratio of -2.76 and a beta of 1.01.

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Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.12. The business had revenue of $54.66 million during the quarter, compared to the consensus estimate of $72.58 million. As a group, sell-side analysts expect that Intuitive Machines, Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Activity

In other Intuitive Machines news, insider Steven Vontur sold 9,266 shares of the firm's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $22.50, for a total value of $208,485.00. Following the completion of the sale, the insider now owns 98,656 shares of the company's stock, valued at $2,219,760. This trade represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 73.68% of the company's stock.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP purchased a new stake in shares of Intuitive Machines in the fourth quarter valued at approximately $33,255,000. D. E. Shaw & Co. Inc. lifted its stake in Intuitive Machines by 3,991.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company's stock worth $21,102,000 after acquiring an additional 1,133,581 shares during the period. Vanguard Group Inc. grew its holdings in Intuitive Machines by 33.6% during the 4th quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company's stock worth $73,503,000 after acquiring an additional 1,017,706 shares in the last quarter. Renaissance Technologies LLC increased its position in Intuitive Machines by 99.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company's stock valued at $22,170,000 after purchasing an additional 609,118 shares during the period. Finally, Driehaus Capital Management LLC bought a new stake in shares of Intuitive Machines in the 4th quarter valued at about $9,133,000. Institutional investors own 72.21% of the company's stock.

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.