Intuitive Machines (NASDAQ:LUNR) Shares Gap Down to $8.15

Posted by on May 17th, 2023

Intuitive Machines, Inc. (NASDAQ:LUNR – Get Rating) shares gapped down prior to trading on Monday . The stock had previously closed at $8.15, but opened at $7.84. Intuitive Machines shares last traded at $7.83, with a volume of 61,656 shares.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Roth Mkm initiated coverage on Intuitive Machines in a research note on Friday, March 10th. They set a “buy” rating and a $20.00 price objective on the stock. Canaccord Genuity Group decreased their price target on Intuitive Machines from $35.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, April 19th. Finally, Roth Capital reiterated a “buy” rating on shares of Intuitive Machines in a research report on Thursday, March 9th.

Intuitive Machines Trading Up 7.3 %

The firm’s 50 day moving average price is $10.17.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LUNR. Hudson Bay Capital Management LP bought a new stake in shares of Intuitive Machines during the first quarter valued at approximately $2,549,000. HGC Investment Management Inc. bought a new stake in Intuitive Machines in the 1st quarter worth about $2,430,000. Geode Capital Management LLC purchased a new position in Intuitive Machines in the 1st quarter worth about $572,000. CPMG Inc purchased a new position in Intuitive Machines in the 1st quarter worth about $14,270,000. Finally, Polar Asset Management Partners Inc. bought a new position in Intuitive Machines during the 1st quarter valued at about $1,620,000. Institutional investors own 94.74% of the company’s stock.

About Intuitive Machines

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Inflection Point Acquisition Corp. entered into a definitive business combination agreement with Inflection Point Acquisition Corp.

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