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

Key Points

• Intuitive Machines stock opened at $9.13 after closing at $8.78, reflecting a gap up in trading, with the last price recorded at $9.39.
• Analysts have mixed opinions on the stock, with Bank of America lowering its target price to $8.50 and a consensus rating of "Moderate Buy."
• The company reported a loss of ($0.11) earnings per share, missing analyst estimates and generated $50.31 million in revenue against expectations of $69.19 million.

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) gapped up before the market opened on Monday . The stock had previously closed at $8.78, but opened at $9.13. Intuitive Machines shares last traded at $9.39, with a volume of 1,396,393 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently commented on LUNR shares. Craig Hallum assumed coverage on Intuitive Machines in a research note on Tuesday, July 22nd. They issued a "buy" rating and a $17.00 target price for the company. UBS Group reissued a "buy" rating on shares of Intuitive Machines in a research note on Monday, August 18th. Zacks Research upgraded Intuitive Machines to a "strong sell" rating in a report on Monday, August 11th. Canaccord Genuity Group cut their target price on Intuitive Machines from $19.00 to $18.50 and set a "buy" rating on the stock in a report on Tuesday, August 19th. Finally, Barclays initiated coverage on shares of Intuitive Machines in a report on Thursday, May 22nd. They set a "neutral" rating on the stock. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.44.

Intuitive Machines Stock Up 1.4%

The company's 50 day moving average price is $10.00 and its 200-day moving average price is $9.69.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The company had revenue of $50.31 million for the quarter, compared to analyst estimates of $69.19 million. Intuitive Machines has set its FY 2025 guidance at EPS. On average, research analysts expect that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Kamal Seyed Ghaffarian sold 40,254 shares of Intuitive Machines stock in a transaction on Monday, July 28th. The stock was sold at an average price of $13.49, for a total transaction of $543,026.46. Following the sale, the director directly owned 3,494,768 shares in the company, valued at approximately $47,144,420.32. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 161,016 shares of company stock worth $1,997,001 in the last 90 days. Company insiders own 39.75% of the company's stock.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. grew its stake in Intuitive Machines by 7.8% during the second quarter. Osaic Holdings Inc. now owns 32,848 shares of the company's stock valued at $357,000 after acquiring an additional 2,367 shares in the last quarter. Nikko Asset Management Americas Inc. grew its position in Intuitive Machines by 37.0% during the second quarter. Nikko Asset Management Americas Inc. now owns 355,767 shares of the company's stock worth $3,864,000 after buying an additional 96,061 shares in the last quarter. Headlands Technologies LLC increased its stake in Intuitive Machines by 375.3% in the 2nd quarter. Headlands Technologies LLC now owns 33,054 shares of the company's stock worth $359,000 after acquiring an additional 26,099 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Intuitive Machines by 12.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,478 shares of the company's stock valued at $147,000 after acquiring an additional 1,499 shares in the last quarter. Finally, Vident Advisory LLC purchased a new position in shares of Intuitive Machines during the second quarter worth about $210,000. 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.