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

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $11.34, but opened at $11.92. Intuitive Machines shares last traded at $12.81, with a volume of 2,352,389 shares.

Analysts Set New Price Targets

LUNR has been the topic of a number of research analyst reports. Barclays initiated coverage on Intuitive Machines in a report on Thursday, May 22nd. They set a "neutral" rating on the stock. Benchmark reaffirmed a "buy" rating and set a $16.00 target price on shares of Intuitive Machines in a report on Tuesday, March 25th. Roth Mkm reduced their target price on Intuitive Machines from $20.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, March 11th. Deutsche Bank Aktiengesellschaft began coverage on Intuitive Machines in a report on Tuesday, February 25th. They issued a "hold" rating and a $18.00 price target on the stock. Finally, Bank of America began coverage on Intuitive Machines in a report on Wednesday, February 5th. They issued an "underperform" rating and a $16.00 price target on the stock. One 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. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.06.

Intuitive Machines Stock Down 4.4%

The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -3.89 and a beta of 1.32. The business has a 50-day moving average of $9.15 and a 200-day moving average of $13.32.

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

Insider Activity at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 161,016 shares of the firm's stock in a transaction dated 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 transaction, the director now directly owns 3,494,768 shares in the company, valued at $42,286,692.80. This trade represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter Mcgrath sold 72,168 shares of Intuitive Machines stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $12.00, for a total value of $866,016.00. Following the completion of the transaction, the chief financial officer now owns 366,824 shares in the company, valued at $4,401,888. The trade was a 16.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 271,090 shares of company stock valued at $3,106,565. Insiders own 73.68% of the company's stock.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Philadelphia Trust Co. increased its stake in Intuitive Machines by 10.0% during the first quarter. Philadelphia Trust Co. now owns 11,000 shares of the company's stock valued at $82,000 after acquiring an additional 1,000 shares during the period. Invesco Ltd. increased its stake in Intuitive Machines by 8.3% during the fourth quarter. Invesco Ltd. now owns 13,449 shares of the company's stock valued at $244,000 after acquiring an additional 1,026 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake 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 acquiring an additional 1,566 shares during the period. Quarry LP bought a new position in Intuitive Machines during the fourth quarter valued at about $44,000. Finally, Bank of New York Mellon Corp increased its stake in Intuitive Machines by 3.7% during 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 acquiring an additional 2,499 shares during the period. 72.21% of the stock is currently owned by 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.