Intuitive Machines (NASDAQ:LUNR) Price Target Cut to $34.00 by Analysts at B. Riley Financial

Intuitive Machines (NASDAQ:LUNR) had its target price trimmed by B. Riley Financial from $43.00 to $34.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a report on Thursday, October 15th. Roth Capital set a $30.00 price objective on shares of Intuitive Machines in a research note on Thursday, August 13th. Cantor Fitzgerald reissued an “overweight” rating on shares of Intuitive Machines in a report on Monday, September 21st. Zacks Research lowered shares of Intuitive Machines from a “hold” rating to a “strong sell” rating in a report on Monday, October 12th. Finally, Stifel Nicolaus raised Intuitive Machines from a “hold” rating to a “buy” rating and cut their target price for the company from $32.00 to $26.00 in a research report on Friday, August 14th. Seven research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the stock. According to MarketBeat, Intuitive Machines presently has an average rating of “Hold” and a consensus price target of $29.75.

Intuitive Machines Stock Down 5.2%

Shares of Intuitive Machines stock opened at $9.93 on Wednesday. The firm has a market capitalization of $2.27 billion, a P/E ratio of -10.45 and a beta of 1.91. The company has a 50 day moving average price of $13.44 and a 200 day moving average price of $19.57. Intuitive Machines has a 52 week low of $7.78 and a 52 week high of $46.75.

Intuitive Machines (NASDAQ:LUNR) last released its 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 company had revenue of $206.17 million for the quarter, compared to the consensus estimate of $212.32 million. As a group, research analysts anticipate that Intuitive Machines will post -0.60 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Intuitive Machines

Large investors have recently made changes to their positions in the business. Calamos Advisors LLC purchased a new position in shares of Intuitive Machines during the first quarter worth $2,984,000. Fifth Third Bancorp acquired a new position in Intuitive Machines during the first quarter valued at $4,314,000. Raiffeisen Bank International AG acquired a new position in Intuitive Machines during the second quarter valued at $3,565,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Intuitive Machines by 202.1% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 461,564 shares of the company’s stock valued at $8,567,000 after purchasing an additional 308,755 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in Intuitive Machines in the first quarter valued at $35,895,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

About Intuitive Machines

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.