Intuitive Machines (NASDAQ:LUNR) Shares Gap Down – Time to Sell?

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) gapped down before the market opened on Thursday . The stock had previously closed at $8.79, but opened at $8.50. Intuitive Machines shares last traded at $8.58, with a volume of 1,919,787 shares.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LUNR shares. Bank of America started coverage on Intuitive Machines in a research note on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Intuitive Machines in a research note on Tuesday, February 25th. They issued a “hold” rating and a $18.00 target price on the stock. Cantor Fitzgerald decreased their price target on shares of Intuitive Machines from $15.00 to $13.00 and set an “overweight” rating for the company in a research note on Tuesday. Roth Capital set a $20.00 price objective on shares of Intuitive Machines in a research report on Friday, March 7th. Finally, Canaccord Genuity Group reduced their target price on shares of Intuitive Machines from $22.00 to $21.00 and set a “buy” rating for the company in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $16.00.

Intuitive Machines Trading Down 1.4 %

The company has a market cap of $1.22 billion, a P/E ratio of -2.94 and a beta of 1.01. The business has a 50 day moving average price of $15.70 and a 200-day moving average price of $12.93.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings results on Tuesday, March 25th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.12. The firm had revenue of $54.66 million for the quarter, compared to the consensus estimate of $72.58 million. On average, sell-side analysts expect that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.

Insider Activity

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the transaction, the director now owns 3,494,768 shares of the company’s stock, valued at $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Vontur sold 4,528 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total value of $88,748.80. Following the completion of the sale, the insider now directly owns 104,272 shares of the company’s stock, valued at approximately $2,043,731.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 391,767 shares of company stock valued at $7,233,038. 73.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PharVision Advisers LLC acquired a new stake in shares of Intuitive Machines during the 4th quarter worth about $185,000. Voloridge Investment Management LLC acquired a new stake in Intuitive Machines during the fourth quarter worth approximately $3,768,000. Soviero Asset Management LP lifted its position in Intuitive Machines by 65.0% during the fourth quarter. Soviero Asset Management LP now owns 330,000 shares of the company’s stock worth $5,993,000 after acquiring an additional 130,000 shares during the last quarter. Two Sigma Advisers LP bought a new stake in shares of Intuitive Machines during the fourth quarter worth approximately $4,971,000. Finally, Two Sigma Investments LP acquired a new position in shares of Intuitive Machines in the fourth quarter valued at approximately $33,255,000. 72.21% of the stock is 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.