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

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $7.91, but opened at $7.61. Intuitive Machines shares last traded at $7.35, with a volume of 1,830,379 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Bank of America initiated coverage on Intuitive Machines in a research note on Wednesday, February 5th. They set an "underperform" rating and a $16.00 target price on the stock. Roth Capital set a $20.00 price target on Intuitive Machines in a research note on Friday, March 7th. Canaccord Genuity Group decreased their target price on Intuitive Machines from $26.00 to $22.00 and set a "buy" rating for the company in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft began coverage on Intuitive Machines in a research report on Tuesday, February 25th. They set a "hold" rating and a $18.00 target price for the company. Finally, Roth Mkm decreased their target price on Intuitive Machines from $20.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, March 11th. One 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, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $16.38.

Intuitive Machines Stock Performance

The company has a market capitalization of $995.06 million, a price-to-earnings ratio of -2.41 and a beta of 1.01. The firm's 50-day simple moving average is $16.22 and its 200-day simple moving average is $12.85.

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Insiders Place Their Bets

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm's stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.35, for a total value of $6,935,804.55. Following the sale, the director now directly 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven Vontur sold 9,266 shares of Intuitive Machines stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $22.50, for a total transaction of $208,485.00. Following the sale, the insider now owns 98,656 shares in the company, valued at approximately $2,219,760. This trade represents a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 392,713 shares of company stock worth $7,250,066 in the last ninety days. Insiders own 73.68% of the company's stock.

Institutional Trading of Intuitive Machines

Several institutional investors have recently made changes to their positions in the business. PharVision Advisers LLC acquired a new stake in shares of Intuitive Machines during the 4th quarter valued at about $185,000. Voloridge Investment Management LLC acquired a new position in Intuitive Machines in the fourth quarter valued at about $3,768,000. Soviero Asset Management LP boosted its position in Intuitive Machines by 65.0% in the fourth quarter. Soviero Asset Management LP now owns 330,000 shares of the company's stock valued at $5,993,000 after buying an additional 130,000 shares in the last quarter. Two Sigma Advisers LP acquired a new position in Intuitive Machines in the fourth quarter valued at about $4,971,000. Finally, Two Sigma Investments LP acquired a new position in Intuitive Machines in the fourth quarter valued at about $33,255,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.