Intuitive Machines (NASDAQ:LUNR) Shares Gap Down - Here's What Happened

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s share price 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 changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on LUNR shares. Roth Capital set a $20.00 target price on shares of Intuitive Machines in a research report on Friday, March 7th. Cantor Fitzgerald reduced their price objective on Intuitive Machines from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Tuesday, March 25th. Bank of America started coverage on Intuitive Machines in a research report on Wednesday, February 5th. They issued an "underperform" rating and a $16.00 target price on the stock. Roth Mkm reduced their price target on shares of Intuitive Machines from $20.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, March 11th. Finally, Canaccord Genuity Group dropped their price objective on shares of Intuitive Machines from $22.00 to $21.00 and set a "buy" rating on the stock in a 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $16.00.

Intuitive Machines Stock Performance

The company has a market capitalization of $1.05 billion, a PE ratio of -2.54 and a beta of 1.01. The company's fifty day moving average is $15.28 and its 200-day moving average is $13.02.

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Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its quarterly earnings data on Tuesday, March 25th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.12. The firm had revenue of $54.66 million during the quarter, compared to analysts' expectations of $72.58 million. On average, sell-side analysts expect that Intuitive Machines, Inc. will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Steven Vontur sold 4,528 shares of the firm's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the completion of the transaction, the insider now directly owns 104,272 shares of the company's stock, valued at approximately $2,043,731.20. This trade represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 73.68% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new position in Intuitive Machines during the fourth quarter valued at approximately $44,000. Jones Financial Companies Lllp raised its holdings in shares of Intuitive Machines by 751.3% during the 4th 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 purchased a new position in shares of Intuitive Machines in the third quarter valued at $85,000. Steward Partners Investment Advisory LLC increased its position in 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 purchasing an additional 3,300 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new stake in Intuitive Machines during the fourth quarter valued at $91,000. 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.