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

Key Points

• Gapped down: Shares opened at $18.50 after a $19.63 close and last traded around $18.40 on volume of about 3.94 million shares.
• Analysts hold an average rating of Moderate Buy with an average price target of $16.42, which is below the current share price.
• Significant insider selling: CEO Stephen Altemus sold 416,086 shares (~$7.52M) and SVP Timothy Crain sold 200,000 shares (~$3.21M); insiders sold 2.85M shares (~$45.9M) last quarter and still own about 39.75% of the company.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $19.63, but opened at $18.50. Intuitive Machines shares last traded at $18.4020, with a volume of 3,937,357 shares trading hands.

Analysts Set New Price Targets

LUNR has been the subject of several recent research reports. Zacks Research raised shares of Intuitive Machines from a "strong sell" rating to a "hold" rating in a research report on Thursday, November 20th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Intuitive Machines in a report on Wednesday, October 8th. Cantor Fitzgerald restated an "overweight" rating on shares of Intuitive Machines in a report on Wednesday, December 3rd. Bank of America lifted their price objective on Intuitive Machines from $8.50 to $9.50 and gave the company an "underperform" rating in a research note on Wednesday, November 19th. Finally, Roth Capital reissued a "buy" rating on shares of Intuitive Machines in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Intuitive Machines currently has an average rating of "Moderate Buy" and an average price target of $16.42.

Intuitive Machines Trading Down 3.0%

The firm has a market cap of $3.43 billion, a PE ratio of -7.66 and a beta of 1.37. The business has a fifty day moving average price of $12.16 and a 200 day moving average price of $11.17.

Insider Transactions at Intuitive Machines

In related news, CEO Stephen J. Altemus sold 416,086 shares of Intuitive Machines stock in a transaction on Monday, January 5th. The shares were sold at an average price of $18.08, for a total transaction of $7,522,834.88. Following the sale, the chief executive officer directly owned 1,026,402 shares in the company, valued at $18,557,348.16. This trade represents a 28.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy Price Crain II sold 200,000 shares of the company's stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $16.04, for a total transaction of $3,208,000.00. Following the completion of the transaction, the senior vice president owned 298,435 shares of the company's stock, valued at $4,786,897.40. This represents a 40.13% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 2,850,000 shares of company stock worth $45,886,174. 39.75% of the stock is currently owned by insiders.

Institutional Trading of Intuitive Machines

A number of hedge funds and other institutional investors have recently made changes to their positions in LUNR. Golden State Wealth Management LLC grew its stake in Intuitive Machines by 180.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company's stock worth $30,000 after buying an additional 1,800 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Intuitive Machines by 41.5% in the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company's stock valued at $43,000 after acquiring an additional 781 shares during the period. Nisa Investment Advisors LLC boosted its stake in Intuitive Machines by 35.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company's stock worth $47,000 after purchasing an additional 1,127 shares during the period. Quarry LP raised its holdings in shares of Intuitive Machines by 151.4% in the third quarter. Quarry LP now owns 6,457 shares of the company's stock valued at $68,000 after buying an additional 3,889 shares during the last quarter. Finally, GF Fund Management CO. LTD. purchased a new position in shares of Intuitive Machines during the third quarter worth about $94,000. Institutional investors and hedge funds own 72.21% of the company's stock.

Intuitive Machines Company Profile

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA's Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.

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