Intuitive Machines (NASDAQ:LUNR) Shares Gap Down – Should You Sell?

Intuitive Machines, Inc. (NASDAQ:LUNR) gapped down before the market opened on Tuesday . The stock had previously closed at $7.91, but opened at $7.61. Intuitive Machines shares last traded at $7.35, with a volume of 1,830,379 shares traded.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LUNR. Bank of America initiated coverage on shares of Intuitive Machines in a research report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Intuitive Machines in a report on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price target for the company. Roth Mkm decreased their price objective on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Canaccord Genuity Group lowered their target price on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Finally, Roth Capital set a $20.00 price objective on Intuitive Machines in a report on Friday, March 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $16.38.

Intuitive Machines Trading Down 7.4 %

The firm has a market capitalization of $1.03 billion, a P/E ratio of -2.49 and a beta of 1.01. The company has a 50 day moving average of $17.15 and a 200-day moving average of $12.85.

Insiders Place Their Bets

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the completion of the transaction, the director now directly owns 3,494,768 shares in the company, valued at $64,128,992.80. This represents a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Steven Vontur sold 4,528 shares of Intuitive Machines stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total value of $88,748.80. Following the transaction, the insider now directly owns 104,272 shares in the company, valued at $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. Insiders have sold a total of 392,713 shares of company stock worth $7,250,066 in the last quarter. Corporate insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds and other institutional investors have recently bought and sold shares of LUNR. Quarry LP bought a new position in shares of Intuitive Machines in the 4th quarter worth $44,000. Jones Financial Companies Lllp raised its holdings in shares of Intuitive Machines by 751.3% in the 4th quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock worth $70,000 after purchasing an additional 3,381 shares during the period. Steward Partners Investment Advisory LLC boosted its holdings in Intuitive Machines by 201.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock worth $90,000 after buying an additional 3,300 shares during the period. Ancora Advisors LLC purchased a new stake in Intuitive Machines in the fourth quarter worth approximately $91,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Intuitive Machines in the 4th quarter worth approximately $183,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

Intuitive Machines Company Profile

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.