Intuitive Machines (NASDAQ:LUNR) Shares Gap Down to $6.88

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR) gapped down before the market opened on Thursday . The stock had previously closed at $6.88, but opened at $6.51. Intuitive Machines shares last traded at $6.64, with a volume of 1,250,740 shares.

Analyst Ratings Changes

A number of brokerages have commented on LUNR. Cantor Fitzgerald decreased their price objective on Intuitive Machines from $13.00 to $10.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Benchmark reiterated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Friday, March 15th.

Intuitive Machines Price Performance

The stock has a market cap of $572.79 million, a price-to-earnings ratio of 2.56 and a beta of 0.22. The firm has a 50 day simple moving average of $5.29 and a two-hundred day simple moving average of $3.89.

Insiders Place Their Bets

In other news, major shareholder Guy Shanon sold 123,717 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $8.99, for a total transaction of $1,112,215.83. Following the sale, the insider now owns 1,302,673 shares of the company’s stock, valued at $11,711,030.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 78.93% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CPMG Inc bought a new stake in shares of Intuitive Machines in the first quarter valued at about $14,270,000. Nomura Holdings Inc. bought a new position in shares of Intuitive Machines during the 3rd quarter worth approximately $1,369,000. Hudson Bay Capital Management LP acquired a new stake in shares of Intuitive Machines in the first quarter valued at approximately $2,549,000. HGC Investment Management Inc. bought a new stake in shares of Intuitive Machines in the first quarter worth $2,430,000. Finally, Vanguard Group Inc. grew its position in Intuitive Machines by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 171,823 shares of the company’s stock valued at $439,000 after purchasing an additional 4,387 shares in the last quarter. 72.21% of the stock is owned by institutional investors and hedge funds.

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 µNova, a lunar rocket-fueled drone, lunar surface rover services, fixed lunar surface services, rideshare delivery services, lunar access services, lunar orbit delivery services, and lunar data network services, as well as content sales and marketing.