Canaccord Genuity Group Issues Pessimistic Forecast for Intuitive Machines (NASDAQ:LUNR) Stock Price

Intuitive Machines (NASDAQ:LUNR) had its target price dropped by equities research analysts at Canaccord Genuity Group from $18.50 to $15.50 in a report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 61.63% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on the company. UBS Group reiterated a “buy” rating on shares of Intuitive Machines in a report on Monday, August 18th. Zacks Research raised Intuitive Machines to a “strong sell” rating in a research note on Monday, August 11th. Bank of America dropped their price target on Intuitive Machines from $10.50 to $8.50 and set an “underperform” rating for the company in a research report on Monday, August 25th. Roth Capital restated a “buy” rating on shares of Intuitive Machines in a report on Tuesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research note on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Intuitive Machines presently has an average rating of “Moderate Buy” and an average price target of $15.40.

Intuitive Machines Stock Performance

Shares of NASDAQ LUNR opened at $9.59 on Friday. The firm has a fifty day moving average of $10.71 and a 200 day moving average of $10.60. The firm has a market cap of $1.71 billion, a PE ratio of -2.96 and a beta of 1.42. Intuitive Machines has a one year low of $6.14 and a one year high of $24.95.

Intuitive Machines (NASDAQ:LUNR) last announced its earnings results on Thursday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The firm had revenue of $50.31 million for the quarter, compared to analyst estimates of $69.19 million. On average, equities analysts predict that Intuitive Machines will post 0.73 EPS for the current fiscal year.

Institutional Trading of Intuitive Machines

A number of hedge funds and other institutional investors have recently modified their holdings of LUNR. Charles Schwab Investment Management Inc. boosted its stake in Intuitive Machines by 27.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 140,208 shares of the company’s stock worth $1,045,000 after buying an additional 30,447 shares during the period. Swiss National Bank acquired a new position in shares of Intuitive Machines in the 1st quarter worth approximately $1,203,000. ARK Investment Management LLC boosted its position in shares of Intuitive Machines by 56.1% during the 2nd quarter. ARK Investment Management LLC now owns 1,158,775 shares of the company’s stock worth $12,596,000 after purchasing an additional 416,337 shares during the period. Jump Financial LLC purchased a new position in shares of Intuitive Machines during the 1st quarter worth approximately $1,900,000. Finally, Hussman Strategic Advisors Inc. acquired a new stake in Intuitive Machines in the 1st quarter valued at approximately $1,095,000. 72.21% of the stock is owned by institutional investors and hedge funds.

Intuitive Machines Company Profile

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.