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

Intuitive Machines (NASDAQ:LUNR) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other research analysts also recently commented on the company. Canaccord Genuity Group raised their price objective on Intuitive Machines from $24.00 to $41.00 and gave the stock a “buy” rating in a research note on Friday, May 15th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $34.00 target price on shares of Intuitive Machines in a report on Wednesday, May 20th. B. Riley Financial reaffirmed a “buy” rating on shares of Intuitive Machines in a report on Wednesday, June 24th. Cantor Fitzgerald upped their price target on shares of Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Finally, KeyCorp increased their price objective on shares of Intuitive Machines from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 29th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Intuitive Machines has a consensus rating of “Moderate Buy” and a consensus price target of $31.50.

Intuitive Machines Stock Performance

NASDAQ LUNR opened at $14.85 on Tuesday. Intuitive Machines has a one year low of $7.78 and a one year high of $46.75. The stock has a 50-day moving average of $27.32 and a 200 day moving average of $22.59. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -16.88 and a beta of 1.78.

Intuitive Machines (NASDAQ:LUNR) last posted its earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The business had revenue of $186.73 million for the quarter, compared to analyst estimates of $202.95 million. On average, equities analysts predict that Intuitive Machines will post -0.36 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Machines

In related news, Director William John Liquori, Jr. sold 18,321 shares of the business’s stock in a transaction on Monday, June 8th. The shares were sold at an average price of $29.87, for a total value of $547,248.27. Following the sale, the director owned 68,875 shares in the company, valued at approximately $2,057,296.25. The trade was a 21.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 141,909 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $20.43, for a total transaction of $2,899,200.87. Following the sale, the director directly owned 3,494,768 shares in the company, valued at approximately $71,398,110.24. The trade was a 3.90% 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 1,019,775 shares of company stock valued at $28,399,292 in the last ninety days. Corporate insiders own 54.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Trustees of the University of Pennsylvania bought a new position in Intuitive Machines during the fourth quarter valued at $52,689,000. Tema ETFs LLC grew its holdings in Intuitive Machines by 139,768.2% during the 2nd quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock valued at $66,418,000 after purchasing an additional 3,102,854 shares during the last quarter. UBS Group AG raised its position in Intuitive Machines by 22.0% in the 4th quarter. UBS Group AG now owns 3,095,383 shares of the company’s stock worth $50,238,000 after purchasing an additional 557,517 shares during the period. Geode Capital Management LLC lifted its stake in Intuitive Machines by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 2,735,161 shares of the company’s stock worth $44,399,000 after purchasing an additional 61,084 shares during the last quarter. Finally, Bank of America Corp DE boosted its position in shares of Intuitive Machines by 18.4% during the third quarter. Bank of America Corp DE now owns 2,677,305 shares of the company’s stock valued at $28,165,000 after buying an additional 415,359 shares during the period. Institutional investors own 72.21% of the company’s stock.

About Intuitive Machines

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.