Intuitive Machines (NASDAQ:LUNR) Shares Gap Down - Time to Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $14.40, but opened at $13.18. Intuitive Machines shares last traded at $14.06, with a volume of 4,006,868 shares trading hands.

Analyst Upgrades and Downgrades

LUNR has been the topic of a number of recent research reports. Canaccord Genuity Group lifted their target price on Intuitive Machines from $17.50 to $26.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Cantor Fitzgerald lifted their price objective on Intuitive Machines from $10.00 to $15.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Bank of America initiated coverage on Intuitive Machines in a research report on Wednesday, February 5th. They set an "underperform" rating and a $16.00 price objective on the stock. Benchmark raised their target price on Intuitive Machines from $10.00 to $16.00 and gave the stock a "buy" rating in a research report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intuitive Machines in a report on Tuesday, February 25th. They issued a "hold" rating and a $18.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Intuitive Machines presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.14.

Intuitive Machines Stock Up 4.8 %

The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of -4.80 and a beta of 1.01. The stock's 50-day simple moving average is $19.01 and its 200 day simple moving average is $12.64.

Insiders Place Their Bets

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm's stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the transaction, the director now owns 3,494,768 shares in the company, valued at $64,128,992.80. This trade represents a 9.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Vontur sold 9,266 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $22.50, for a total transaction of $208,485.00. Following the transaction, the insider now owns 98,656 shares in the company, valued at approximately $2,219,760. The trade was a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 393,659 shares of company stock valued at $7,262,364. 73.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds have recently bought and sold shares of the company. Quarry LP acquired a new position in shares of Intuitive Machines during the 4th quarter worth $44,000. Jones Financial Companies Lllp raised its stake in Intuitive Machines by 751.3% during the fourth quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company's stock worth $70,000 after acquiring an additional 3,381 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Intuitive Machines in the third quarter worth about $85,000. Steward Partners Investment Advisory LLC lifted its holdings in shares of Intuitive Machines by 201.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company's stock worth $90,000 after acquiring an additional 3,300 shares during the last quarter. Finally, Ancora Advisors LLC acquired a new stake in shares of Intuitive Machines in the 4th quarter valued at approximately $91,000. 72.21% of the stock is owned by institutional investors.

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.