Intuitive Machines (NASDAQ:LUNR) Stock Rating Raised to Hold at Zacks Research

Zacks Research upgraded shares of Intuitive Machines (NASDAQ:LUNR) from a strong sell rating to a hold rating in a research note released on Tuesday morning,Zacks reports.

A number of other equities research analysts have also recently commented on the company. Roth Capital set a $30.00 target price on Intuitive Machines in a report on Thursday, August 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intuitive Machines in a report on Thursday, October 15th. Canaccord Genuity Group reduced their price objective on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, August 18th. KeyCorp decreased their price objective on Intuitive Machines from $38.00 to $30.00 and set an “overweight” rating on the stock in a research note on Monday, November 2nd. Finally, B. Riley Financial reduced their target price on shares of Intuitive Machines from $43.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, November 4th. Seven equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.75.

Intuitive Machines Trading Up 3.1%

LUNR stock opened at $12.18 on Tuesday. Intuitive Machines has a 52 week low of $7.78 and a 52 week high of $46.75. The company has a market cap of $2.79 billion, a P/E ratio of -12.82 and a beta of 1.91. The company’s 50-day moving average price is $12.98 and its 200 day moving average price is $19.33.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The firm had revenue of $206.17 million during the quarter, compared to analyst estimates of $212.32 million. On average, equities research analysts expect that Intuitive Machines will post -0.60 earnings per share for the current year.

Insider Buying and Selling at Intuitive Machines

In related news, Director Kamal Ghaffarian sold 1,698 shares of the stock in a transaction 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 transaction, the director directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Vontur sold 3,050 shares of the company’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $16.13, for a total transaction of $49,196.50. Following the completion of the transaction, the insider directly owned 113,997 shares of the company’s stock, valued at approximately $1,838,771.61. The trade was a 2.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 391,263 shares of company stock worth $6,077,802 in the last 90 days. 54.10% of the stock is owned by company insiders.

Institutional Trading of Intuitive Machines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Calamos Advisors LLC bought a new stake in shares of Intuitive Machines during the 1st quarter worth $2,984,000. Fifth Third Bancorp purchased a new stake in shares of Intuitive Machines in the 1st quarter valued at approximately $4,314,000. Raiffeisen Bank International AG purchased a new stake in shares of Intuitive Machines in the 2nd quarter valued at approximately $3,565,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Intuitive Machines by 202.1% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 461,564 shares of the company’s stock valued at $8,567,000 after acquiring an additional 308,755 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Intuitive Machines in the 1st quarter worth approximately $35,895,000. 72.21% of the stock is owned by institutional investors and hedge funds.

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.