Intuitive Machines (NASDAQ:LUNR) Shares Gap Up to $8.54

Posted by Defense World Staff on Jul 16th, 2023

Intuitive Machines, Inc. (NASDAQ:LUNR – Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $8.54, but opened at $9.93. Intuitive Machines shares last traded at $10.09, with a volume of 1,606,100 shares traded.

Analyst Ratings Changes

LUNR has been the topic of a number of recent research reports. Canaccord Genuity Group dropped their price objective on Intuitive Machines from $35.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, April 19th. Cantor Fitzgerald initiated coverage on Intuitive Machines in a research report on Friday, May 19th. They set an “overweight” rating and a $11.00 price objective on the stock.

Intuitive Machines Stock Up 12.8 %

The business’s 50 day moving average price is $8.11.

Intuitive Machines (NASDAQ:LUNR – Get Free Report) last released its quarterly earnings results on Monday, May 15th. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.11). The business had revenue of $18.24 million during the quarter, compared to the consensus estimate of $45.00 million. On average, analysts expect that Intuitive Machines, Inc. will post -1.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC acquired a new stake in Intuitive Machines during the first quarter worth about $572,000. Polar Asset Management Partners Inc. acquired a new stake in Intuitive Machines during the first quarter worth about $1,620,000. HGC Investment Management Inc. acquired a new stake in Intuitive Machines during the first quarter worth about $2,430,000. Hudson Bay Capital Management LP acquired a new stake in Intuitive Machines during the first quarter worth about $2,549,000. Finally, Quarry LP acquired a new stake in Intuitive Machines during the first quarter worth about $3,888,000. 23.82% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Machines Company Profile

(Get Free Report)

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 propulsive drone that hops across the lunar surface; lunar access services, such as lunar orbit delivery services; and lunar data network services.