Intuitive Machines (NASDAQ:LUNR) Stock Gets Price Target Trim from KeyCorp

Intuitive Machines (NASDAQ:LUNR) had its price objective reduced by KeyCorp from $38.00 to $30.00 in a research report report published on Monday morning, MarketBeat reports. KeyCorp currently has an overweight rating on the stock.

A number of other equities analysts also recently commented on the stock. Roth Capital set a $30.00 target price on shares of Intuitive Machines in a research note on Thursday, August 13th. Zacks Research downgraded shares of Intuitive Machines from a “hold” rating to a “strong sell” rating in a research note on Monday, October 12th. Canaccord Genuity Group lowered their price target on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intuitive Machines in a research note on Thursday, October 15th. Finally, B. Riley Financial dropped their price objective on Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a research note on Friday, August 14th. Seven analysts have rated the stock with a Buy rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $29.75.

Intuitive Machines Price Performance

Shares of LUNR opened at $9.93 on Monday. Intuitive Machines has a 12-month low of $7.78 and a 12-month high of $46.75. The firm has a fifty day moving average price of $13.44 and a 200-day moving average price of $19.57.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly 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 firm had revenue of $206.17 million for the quarter, compared to analysts’ expectations of $212.32 million. On average, sell-side analysts anticipate that Intuitive Machines will post -0.60 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Timothy Crain, II sold 50,000 shares of the company’s stock in a transaction dated 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 directly owned 351,279 shares of the company’s stock, valued at $5,286,748.95. This represents a 12.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $16.13, for a total transaction of $49,196.50. Following the transaction, the insider owned 113,997 shares in the company, valued at approximately $1,838,771.61. The trade was a 2.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 658,711 shares of company stock valued at $10,402,436 over the last three months. 54.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds have recently modified their holdings of the business. Fulcrum Asset Management LLP bought a new position in Intuitive Machines in the third quarter worth approximately $87,000. Ethic Inc. lifted its holdings in Intuitive Machines by 50.5% during the third quarter. Ethic Inc. now owns 44,306 shares of the company’s stock worth $631,000 after buying an additional 14,871 shares during the period. Kestra Advisory Services LLC lifted its holdings in Intuitive Machines by 4.9% during the third quarter. Kestra Advisory Services LLC now owns 29,969 shares of the company’s stock worth $427,000 after buying an additional 1,392 shares during the period. Integrity Alliance LLC. bought a new stake in Intuitive Machines during the 3rd quarter valued at $156,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in 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 acquiring an additional 54,497 shares in the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

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.