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

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

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

Intuitive Machines Price Performance

LUNR opened at $12.18 on Tuesday. Intuitive Machines has a 12 month low of $7.78 and a 12 month high of $46.75. The stock has a market cap of $2.79 billion, a P/E ratio of -12.82 and a beta of 1.91. The stock’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 earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The business had revenue of $206.17 million during the quarter, compared to analysts’ expectations of $212.32 million. Equities analysts anticipate that Intuitive Machines will post -0.60 EPS for the current year.

Insiders Place Their Bets

In other Intuitive Machines news, Director Kamal Ghaffarian sold 1,698 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $16.00, for a total value of $27,168.00. Following the completion of the transaction, the director directly owned 3,494,768 shares in the company, valued at $55,916,288. This trade represents a 0.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Vontur sold 3,050 shares of Intuitive Machines stock in a transaction that occurred on Thursday, August 27th. The stock was 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 in the company, valued at approximately $1,838,771.61. This trade represents 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. In the last quarter, insiders have sold 391,263 shares of company stock worth $6,077,802. Company insiders own 54.10% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

A number of large investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in Intuitive Machines during the 3rd quarter worth approximately $98,725,000. Tema ETFs LLC raised its stake 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 period. Tidal Investments LLC purchased a new stake in shares of Intuitive Machines in the second quarter valued at $64,452,000. Renaissance Technologies LLC purchased a new stake in shares of Intuitive Machines in the first quarter valued at $35,895,000. Finally, Bank of America Corp DE boosted its position 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. Institutional investors and hedge funds own 72.21% of the company’s stock.

Intuitive Machines Company Profile

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.