Intuitive Machines (NASDAQ:LUNR) Stock Gets Price Target Cut from B. Riley Financial

Intuitive Machines (NASDAQ:LUNR) had its price objective reduced by B. Riley Financial from $43.00 to $34.00 in a research note published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on LUNR. Bank of America lifted their target price on Intuitive Machines from $11.00 to $13.00 and gave the company an “underperform” rating in a report on Monday, August 31st. Zacks Research downgraded shares of Intuitive Machines from a “hold” rating to a “strong sell” rating in a report on Monday, October 12th. Canaccord Genuity Group lowered their price target on shares of Intuitive Machines from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Tuesday, August 18th. Roth Capital set a $30.00 price objective on shares of Intuitive Machines in a research report on Thursday, August 13th. Finally, Stifel Nicolaus raised shares of Intuitive Machines from a “hold” rating to a “buy” rating and reduced their price objective for the company from $32.00 to $26.00 in a research note on Friday, August 14th. Seven analysts have rated the stock with a Buy rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $29.75.

Intuitive Machines Stock Performance

LUNR stock traded up $1.85 during midday trading on Wednesday, reaching $10.47. 10,863,429 shares of the company’s stock traded hands, compared to its average volume of 7,219,833. The company has a 50-day moving average price of $13.17 and a two-hundred day moving average price of $19.45. Intuitive Machines has a 52 week low of $7.78 and a 52 week high of $46.75. The firm has a market capitalization of $2.40 billion, a PE ratio of -11.02 and a beta of 1.91.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The firm had revenue of $206.17 million during the quarter, compared to analysts’ expectations of $212.32 million. As a group, analysts predict that Intuitive Machines will post -0.60 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Kamal Ghaffarian sold 1,698 shares of Intuitive Machines stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $16.00, for a total transaction of $27,168.00. Following the completion of the sale, the director owned 3,494,768 shares of the company’s stock, valued at approximately $55,916,288. This trade represents a 0.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy Crain, II sold 50,000 shares of the business’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $15.05, for a total value of $752,500.00. Following the transaction, the senior vice president owned 351,279 shares of the company’s stock, valued at approximately $5,286,748.95. The trade was a 12.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 658,711 shares of company stock worth $10,402,436. Corporate insiders own 54.10% of the company’s stock.

Institutional Trading of Intuitive Machines

A number of large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Intuitive Machines during the third quarter worth about $98,725,000. Tema ETFs LLC increased its position in shares of Intuitive Machines by 139,768.2% in the second quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock worth $66,418,000 after purchasing an additional 3,102,854 shares during the last quarter. Tidal Investments LLC purchased a new stake in Intuitive Machines in the second quarter valued at approximately $64,452,000. Renaissance Technologies LLC purchased a new stake in Intuitive Machines in the first quarter valued at approximately $35,895,000. Finally, Bank of America Corp DE raised its stake in Intuitive Machines by 188.9% in the first quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock valued at $34,948,000 after purchasing an additional 1,231,188 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and operates spacecraft, lunar landers, and related systems designed to support missions to the Moon and other destinations. Its offerings include lunar payload delivery, spacecraft and satellite components, communications and navigation services, and data products for government and commercial customers.

Intuitive Machines is a major participant in NASA’s Commercial Lunar Payload Services program, under which it delivers scientific and technology payloads to the lunar surface.