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

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $11.41, but opened at $11.16. Intuitive Machines shares last traded at $10.96, with a volume of 2,524,268 shares traded.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LUNR. Barclays initiated coverage on Intuitive Machines in a research note on Thursday, May 22nd. They issued a "neutral" rating on the stock. Cantor Fitzgerald increased their price target on shares of Intuitive Machines from $13.00 to $16.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intuitive Machines in a research report on Tuesday, February 25th. They issued a "hold" rating and a $18.00 price objective on the stock. Roth Capital reiterated a "buy" rating on shares of Intuitive Machines in a report on Tuesday, May 13th. Finally, B. Riley restated a "buy" rating on shares of Intuitive Machines in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $16.06.

Intuitive Machines Price Performance

The firm has a 50-day simple moving average of $9.38 and a 200 day simple moving average of $13.31. The firm has a market cap of $2.09 billion, a PE ratio of -3.99 and a beta of 1.47.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.20) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.10). The business had revenue of $62.52 million for the quarter, compared to analyst estimates of $66.07 million. Sell-side analysts forecast that Intuitive Machines, Inc. will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Peter Mcgrath sold 37,906 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $7.71, for a total transaction of $292,255.26. Following the completion of the transaction, the chief financial officer now directly owns 438,992 shares of the company's stock, valued at $3,384,628.32. The trade was a 7.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kamal Seyed Ghaffarian sold 161,016 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $12.10, for a total transaction of $1,948,293.60. Following the completion of the sale, the director now owns 3,494,768 shares in the company, valued at $42,286,692.80. This represents a 4.40% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 271,090 shares of company stock valued at $3,106,565. 73.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently modified their holdings of the company. Philadelphia Trust Co. raised its position in Intuitive Machines by 10.0% in the first quarter. Philadelphia Trust Co. now owns 11,000 shares of the company's stock worth $82,000 after acquiring an additional 1,000 shares during the period. Invesco Ltd. raised its holdings in Intuitive Machines by 8.3% in the 4th quarter. Invesco Ltd. now owns 13,449 shares of the company's stock worth $244,000 after purchasing an additional 1,026 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Intuitive Machines by 10.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,187 shares of the company's stock valued at $312,000 after purchasing an additional 1,566 shares in the last quarter. Quarry LP bought a new stake in Intuitive Machines during the fourth quarter valued at about $44,000. Finally, Bank of New York Mellon Corp increased 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 worth $1,285,000 after buying an additional 2,499 shares in the last quarter. 72.21% of the stock is currently owned by hedge funds and other 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.