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

Intuitive Machines, Inc. (NASDAQ:LUNR) shares 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.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LUNR. Cantor Fitzgerald cut their target price on shares of Intuitive Machines from $13.00 to $10.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. Benchmark reiterated a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a report on Friday, March 15th.

Intuitive Machines Trading Down 9.4 %

The firm’s fifty day moving average price is $5.29 and its 200-day moving average price is $3.89. The firm has a market cap of $572.79 million, a price-to-earnings ratio of 2.56 and a beta of 0.22.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, major shareholder Guy Shanon sold 123,717 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $8.99, for a total transaction of $1,112,215.83. Following the completion of the transaction, the insider now owns 1,302,673 shares in the company, valued at approximately $11,711,030.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 78.93% of the stock is owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

Large investors have recently bought and sold shares of the company. Polar Asset Management Partners Inc. purchased a new position in shares of Intuitive Machines in the 1st quarter valued at about $1,620,000. CPMG Inc purchased a new position in shares of Intuitive Machines in the 1st quarter valued at about $14,270,000. Geode Capital Management LLC purchased a new position in shares of Intuitive Machines in the 1st quarter valued at about $572,000. HGC Investment Management Inc. purchased a new position in shares of Intuitive Machines in the 1st quarter valued at about $2,430,000. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Intuitive Machines in the 1st quarter valued at about $2,549,000. Hedge funds and other 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 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.