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

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.

Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report)'s stock price 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 Ratings Changes

A number of equities analysts have weighed in on LUNR shares. Bank of America cut their target price on shares of Intuitive Machines from $10.50 to $8.50 and set an "underperform" rating for the company in a research report on Monday, August 25th. Zacks Research upgraded shares of Intuitive Machines to a "strong sell" rating in a research report on Monday, August 11th. Barclays started coverage on shares of Intuitive Machines in a research report on Thursday, May 22nd. They set a "neutral" rating for the company. Canaccord Genuity Group cut their target price on shares of Intuitive Machines from $19.00 to $18.50 and set a "buy" rating for the company in a research report on Tuesday, August 19th. Finally, UBS Group restated a "buy" rating on shares of Intuitive Machines in a research report on Monday, August 18th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.10.

Intuitive Machines Stock Up 1.4%

The firm has a market capitalization of $1.59 billion, a P/E ratio of -2.75 and a beta of 1.38. The firm's 50-day simple moving average is $10.15 and its 200-day simple moving average is $9.79.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The business 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. As a group, analysts expect that Intuitive Machines, Inc. will post 0.73 EPS for the current fiscal year.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 80,508 shares of Intuitive Machines stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $12.05, for a total transaction of $970,121.40. Following the transaction, the director directly owned 3,494,768 shares of the company's stock, valued at approximately $42,111,954.40. This trade represents a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have sold 161,016 shares of company stock worth $1,997,001 over the last quarter. Company insiders own 39.75% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in LUNR. Northern Trust Corp raised its stake in shares of Intuitive Machines by 24.5% during the fourth quarter. Northern Trust Corp now owns 338,836 shares of the company's stock worth $6,153,000 after acquiring an additional 66,581 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Intuitive Machines in the fourth quarter worth $1,818,000. Bank of America Corp DE increased its stake in shares of Intuitive Machines by 209.0% in the fourth quarter. Bank of America Corp DE now owns 57,192 shares of the company's stock worth $1,039,000 after buying an additional 38,684 shares during the period. Cetera Investment Advisers purchased a new position in shares of Intuitive Machines in the fourth quarter worth $228,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Intuitive Machines by 10.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,187 shares of the company's stock worth $312,000 after buying an additional 1,566 shares during the period. 72.21% of the stock is 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.