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

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.

Analyst Ratings Changes

A number of research analysts have recently issued reports on LUNR shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intuitive Machines in a research note on Tuesday, February 25th. They issued a “hold” rating and a $18.00 target price for the company. Bank of America began coverage on Intuitive Machines in a report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 target price on the stock. Roth Mkm cut their price target on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. Benchmark reiterated a “buy” rating and set a $16.00 price target on shares of Intuitive Machines in a research report on Tuesday. Finally, Canaccord Genuity Group lowered their price objective on shares of Intuitive Machines from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Intuitive Machines currently has an average rating of “Moderate Buy” and an average price target of $16.00.

Intuitive Machines Stock Performance

The firm’s 50-day simple moving average is $15.28 and its 200 day simple moving average is $12.92. The company has a market cap of $1.13 billion, a P/E ratio of -2.74 and a beta of 1.01.

Intuitive Machines (NASDAQ:LUNR) last released its earnings results on Tuesday, March 25th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.12. The company had revenue of $54.66 million during the quarter, compared to analyst estimates of $72.58 million. As a group, research analysts forecast that Intuitive Machines, Inc. will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Steven Vontur sold 9,266 shares of Intuitive Machines stock in a transaction on Friday, January 31st. The shares were sold at an average price of $22.50, for a total transaction of $208,485.00. Following the transaction, the insider now directly owns 98,656 shares of the company’s stock, valued at $2,219,760. This trade represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction 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 sale, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. This represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 391,767 shares of company stock valued at $7,233,038 in the last 90 days. 73.68% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of LUNR. Vanguard Group Inc. lifted its position in Intuitive Machines by 33.6% in the 4th quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company’s stock valued at $73,503,000 after acquiring an additional 1,017,706 shares in the last quarter. Two Sigma Investments LP acquired a new stake in Intuitive Machines in the 4th quarter valued at approximately $33,255,000. Renaissance Technologies LLC lifted its stake in Intuitive Machines by 99.6% in the 4th quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company’s stock valued at $22,170,000 after acquiring an additional 609,118 shares in the last quarter. D. E. Shaw & Co. Inc. boosted its position in Intuitive Machines by 3,991.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company’s stock worth $21,102,000 after acquiring an additional 1,133,581 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Intuitive Machines by 20.5% during the 4th quarter. Geode Capital Management LLC now owns 1,125,005 shares of the company’s stock worth $20,437,000 after acquiring an additional 191,733 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.

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.