Intuitive Machines (NASDAQ:LUNR) Raised to “Hold” at Zacks Research

Intuitive Machines (NASDAQ:LUNR) was upgraded by investment analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks reports.

A number of other brokerages have also recently commented on LUNR. Stifel Nicolaus raised shares of Intuitive Machines from a “hold” rating to a “buy” rating and reduced their target price for the company from $32.00 to $26.00 in a report on Friday, August 14th. KeyCorp dropped their price target on shares of Intuitive Machines from $38.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, November 2nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Intuitive Machines in a research report on Monday, September 21st. Roth Capital set a $30.00 price objective on shares of Intuitive Machines in a research report on Thursday, August 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a research note on Thursday, October 15th. Seven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.75.

Intuitive Machines Stock Up 3.1%

NASDAQ LUNR opened at $12.18 on Tuesday. The company has a 50-day moving average price of $12.98 and a 200-day moving average price of $19.33. 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 $2.79 billion, a P/E ratio of -12.82 and a beta of 1.91.

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

Insider Buying and Selling at Intuitive Machines

In other news, Director Kamal Ghaffarian sold 141,909 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $16.87, for a total value of $2,394,004.83. Following the completion of the sale, the director owned 3,494,768 shares in the company, valued at approximately $58,956,736.16. This trade represents a 3.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy Crain, II sold 100,000 shares of the firm’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $13.98, for a total transaction of $1,398,000.00. Following the completion of the sale, the senior vice president owned 351,279 shares of the company’s stock, valued at $4,910,880.42. This trade represents a 22.16% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 391,263 shares of company stock worth $6,077,802 over the last quarter. Insiders own 54.10% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in Intuitive Machines during the 3rd quarter valued at about $98,725,000. Tema ETFs LLC lifted its stake in 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 position in shares of Intuitive Machines during the second quarter valued at approximately $64,452,000. Renaissance Technologies LLC purchased a new position in shares of Intuitive Machines during the first quarter valued at approximately $35,895,000. Finally, Bank of America Corp DE raised its holdings in shares of 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 worth $34,948,000 after buying an additional 1,231,188 shares during the period. 72.21% of the stock is currently owned by institutional investors.

About Intuitive Machines

Intuitive Machines is a space exploration and infrastructure company headquartered in Houston, Texas. It develops and operates lunar landers and provides services intended to support missions to the Moon and other space destinations. The company’s offerings include lunar payload delivery, spacecraft and mission operations, and communications and data services. Its Nova-C lunar lander is designed to carry scientific instruments and other customer payloads to the lunar surface, including through NASA’s Commercial Lunar Payload Services program.