Intuitive Machines (NASDAQ:LUNR) Stock Gets Price Target Cut from Roth Capital

Intuitive Machines (NASDAQ:LUNR) had its price objective reduced by research analysts at Roth Capital from $30.00 to $20.00 in a report released on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Roth Capital‘s price target indicates a potential upside of 63.75% from the company’s previous close.

Several other research analysts also recently commented on LUNR. Bank of America lifted their target price on Intuitive Machines from $11.00 to $13.00 and gave the stock an “underperform” rating in a report on Monday, August 31st. B. Riley Financial reduced their price target on Intuitive Machines from $43.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, November 4th. 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 note on Tuesday, August 18th. KeyCorp lowered their price objective on Intuitive Machines from $38.00 to $30.00 and set an “overweight” rating for the company in a research report on Monday, November 2nd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Intuitive Machines in a research report on Monday, September 21st. Seven analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.50.

Intuitive Machines Stock Performance

Shares of NASDAQ:LUNR traded down $0.82 during midday trading on Friday, hitting $12.21. 2,609,496 shares of the stock were exchanged, compared to its average volume of 11,519,234. The business’s 50-day moving average price is $12.95 and its 200 day moving average price is $19.30. Intuitive Machines has a 12 month low of $7.78 and a 12 month high of $46.75. The stock has a market capitalization of $2.80 billion, a price-to-earnings ratio of -12.98 and a beta of 1.91.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings data on Thursday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.08. The business had revenue of $269.35 million during the quarter, compared to the consensus estimate of $245.90 million. As a group, sell-side analysts expect that Intuitive Machines will post -0.60 EPS for the current year.

Insider Activity

In related news, Director Kamal Ghaffarian sold 1,698 shares of Intuitive Machines stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $16.00, for a total transaction of $27,168.00. Following the completion of the transaction, the director owned 3,494,768 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at 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 business’s stock in a transaction on 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 owned 113,997 shares in the company, valued at approximately $1,838,771.61. The trade was a 2.61% decrease in their position. 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. In the last three months, insiders have sold 391,263 shares of company stock valued at $6,077,802. 54.10% of the stock is currently owned by insiders.

Institutional Trading of Intuitive Machines

A number of large investors have recently bought and sold shares of the business. First Trust Advisors LP boosted its holdings in shares of Intuitive Machines by 12.9% during the 3rd quarter. First Trust Advisors LP now owns 599,827 shares of the company’s stock worth $8,542,000 after buying an additional 68,317 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in shares of Intuitive Machines during the 3rd quarter worth approximately $28,000. Private Advisor Group LLC increased its stake in shares of Intuitive Machines by 49.9% in the 3rd quarter. Private Advisor Group LLC now owns 21,488 shares of the company’s stock valued at $306,000 after acquiring an additional 7,150 shares in the last quarter. Harbour Investments Inc. increased its stake in shares of Intuitive Machines by 38.4% in the 3rd quarter. Harbour Investments Inc. now owns 11,938 shares of the company’s stock valued at $170,000 after acquiring an additional 3,310 shares in the last quarter. Finally, Moors & Cabot Inc. increased its stake in shares of Intuitive Machines by 27.0% in the 3rd quarter. Moors & Cabot Inc. now owns 16,700 shares of the company’s stock valued at $238,000 after acquiring an additional 3,550 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Intuitive Machines

These are some of the LUNR headlines that stood out recently:

• Positive Sentiment: Q3 revenue was $269.35 million, ahead of analyst estimates, and the company reported a smaller loss per share than expected. Revenue rose 31% from the prior quarter. Quarterly earnings results
• Positive Sentiment: Zacks Research raised its rating from “strong sell” to “hold,” a less negative analyst stance. Zacks Research rating
• Negative Sentiment: The company still reported a quarterly loss, so continued execution and progress toward sustainable profitability remain important risks despite the earnings beat. Q3 loss and revenue results

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.