Intuitive Machines (NASDAQ:LUNR) Shares Gap Up - Time to Buy?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $7.09, but opened at $7.64. Intuitive Machines shares last traded at $8.33, with a volume of 7,211,179 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LUNR. Roth Capital set a $20.00 target price on shares of Intuitive Machines in a research note on Friday, March 7th. Canaccord Genuity Group reduced their price objective on Intuitive Machines from $22.00 to $21.00 and set a "buy" rating for the company in a research report on Tuesday. Bank of America assumed 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, Cantor Fitzgerald cut their target price on shares of Intuitive Machines from $15.00 to $13.00 and set an "overweight" rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $16.00.

Intuitive Machines Price Performance

The company has a market capitalization of $1.10 billion, a PE ratio of -2.67 and a beta of 1.01. The business has a 50-day moving average of $15.49 and a 200 day moving average of $12.90.

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Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its earnings results on Tuesday, March 25th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.12. The firm had revenue of $54.66 million for the quarter, compared to the consensus estimate of $72.58 million. As a group, research analysts anticipate that Intuitive Machines, Inc. will post 0.73 EPS for the current year.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, insider Steven Vontur sold 4,528 shares of the stock in a transaction dated 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 sale, the insider now directly owns 104,272 shares of the company's stock, valued at approximately $2,043,731.20. This represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business's stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the transaction, the director now owns 3,494,768 shares of the company's stock, valued at approximately $64,128,992.80. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 391,767 shares of company stock valued at $7,233,038. Insiders own 73.68% of the company's stock.

Hedge Funds Weigh In On Intuitive Machines

Large investors have recently made changes to their positions in the business. Tealwood Asset Management Inc. lifted its stake in shares of Intuitive Machines by 4.5% during the fourth quarter. Tealwood Asset Management Inc. now owns 20,900 shares of the company's stock worth $380,000 after buying an additional 900 shares during the period. Invesco Ltd. boosted its holdings in Intuitive Machines by 8.3% in the 4th quarter. Invesco Ltd. now owns 13,449 shares of the company's stock valued at $244,000 after purchasing an additional 1,026 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Intuitive Machines by 10.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,187 shares of the company's stock valued at $312,000 after buying an additional 1,566 shares during the period. Quarry LP acquired a new stake in shares of Intuitive Machines during the 4th quarter worth approximately $44,000. Finally, Bank of New York Mellon Corp raised its position in Intuitive Machines by 3.7% in the fourth quarter. Bank of New York Mellon Corp now owns 70,740 shares of the company's stock valued at $1,285,000 after purchasing an additional 2,499 shares during the period. 72.21% of the stock is owned by institutional investors and hedge funds.

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.