Intuitive Machines (NASDAQ:LUNR) Stock Price Target Lowered at B. Riley Financial

Intuitive Machines (NASDAQ:LUNR) had its price target cut by stock analysts at B. Riley Financial from $43.00 to $34.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. B. Riley Financial‘s target price points to a potential upside of 241.23% from the stock’s previous close.

A number of other analysts also recently commented on LUNR. Canaccord Genuity Group decreased their price target on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Tuesday, August 18th. Stifel Nicolaus upgraded Intuitive Machines from a “hold” rating to a “buy” rating and dropped their price target for the stock from $32.00 to $26.00 in a report on Friday, August 14th. Cantor Fitzgerald reissued an “overweight” rating on shares of Intuitive Machines in a research report on Monday, September 21st. Weiss Ratings restated a “sell (d-)” rating on shares of Intuitive Machines in a research note on Thursday, October 15th. Finally, Zacks Research lowered Intuitive Machines from a “hold” rating to a “strong sell” rating in a research report on Monday, October 12th. Seven analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $29.75.

Intuitive Machines Stock Down 4.9%

LUNR stock traded down $0.52 during trading on Wednesday, reaching $9.96. The stock had a trading volume of 1,752,283 shares, compared to its average volume of 11,440,270. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -10.77 and a beta of 1.91. Intuitive Machines has a one year low of $7.78 and a one year high of $46.75. The company’s 50 day moving average is $13.57 and its two-hundred day moving average is $19.61.

Intuitive Machines (NASDAQ:LUNR) last posted its 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 business had revenue of $206.17 million for the quarter, compared to analysts’ expectations of $212.32 million. As a group, research analysts predict that Intuitive Machines will post -0.60 earnings per share for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other news, Director Kamal Ghaffarian sold 267,448 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $16.17, for a total transaction of $4,324,634.16. Following the completion of the transaction, the director directly owned 3,494,768 shares of the company’s stock, valued at $56,510,398.56. This represents a 7.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 that occurred on 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 sale, the senior vice president owned 351,279 shares of the company’s stock, valued at approximately $4,910,880.42. The trade was a 22.16% 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 have sold a total of 658,711 shares of company stock worth $10,402,436 over the last three months. 54.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors have recently bought and sold shares of the company. Ethic Inc. grew its holdings in Intuitive Machines by 50.5% during the third quarter. Ethic Inc. now owns 44,306 shares of the company’s stock valued at $631,000 after purchasing an additional 14,871 shares during the period. Kestra Advisory Services LLC raised its stake in shares of Intuitive Machines by 4.9% in the third quarter. Kestra Advisory Services LLC now owns 29,969 shares of the company’s stock valued at $427,000 after buying an additional 1,392 shares during the period. Integrity Alliance LLC. bought a new stake in shares of Intuitive Machines in the third quarter valued at $156,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Intuitive Machines by 9.3% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 640,283 shares of the company’s stock valued at $9,118,000 after buying an additional 54,497 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Intuitive Machines during the 3rd quarter valued at $98,725,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

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.