Intuitive Machines (NASDAQ:LUNR) Price Target Raised to $13.00

Intuitive Machines (NASDAQ:LUNR) had its target price boosted by Bank of America from $11.00 to $13.00 in a report issued on Monday,Benzinga reports. They currently have an underperform rating on the stock.

A number of other brokerages have also recently weighed in on LUNR. Zacks Research raised Intuitive Machines from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 14th. Cantor Fitzgerald reduced their price objective on shares of Intuitive Machines from $43.00 to $32.00 and set an “overweight” rating for the company in a research note on Friday, August 14th. B. Riley Financial decreased their target price on shares of Intuitive Machines from $45.00 to $43.00 and set a “buy” rating for the company in a report on Friday, August 14th. Wall Street Zen raised shares of Intuitive Machines from a “strong sell” rating to a “sell” rating in a research report on Sunday, May 24th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $34.00 price target on shares of Intuitive Machines in a report on Wednesday, May 20th. Seven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Intuitive Machines has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Intuitive Machines Stock Performance

Shares of NASDAQ:LUNR opened at $14.86 on Monday. The company has a market capitalization of $3.40 billion, a PE ratio of -15.64 and a beta of 1.85. The stock has a fifty day moving average of $16.16 and a 200-day moving average of $21.78. Intuitive Machines has a one year low of $7.78 and a one year high of $46.75.

Intuitive Machines (NASDAQ:LUNR) last issued its earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The company had revenue of $206.17 million during the quarter, compared to analyst estimates of $212.32 million. As a group, research analysts forecast that Intuitive Machines will post -0.6 EPS for the current fiscal year.

Insider Activity

In other Intuitive Machines news, major shareholder International L.P. Advent sold 11,495,514 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $12.84, for a total transaction of $147,602,399.76. Following the completion of the sale, the insider directly owned 11,495,514 shares in the company, valued at approximately $147,602,399.76. This trade represents a 50.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William John Liquori, Jr. sold 18,321 shares of Intuitive Machines stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $29.87, for a total value of $547,248.27. Following the transaction, the director directly owned 68,875 shares in the company, valued at approximately $2,057,296.25. This trade represents a 21.01% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,407,363 shares of company stock valued at $165,432,504 in the last ninety days. Corporate insiders own 54.10% of the company’s stock.

Institutional Trading of Intuitive Machines

A number of hedge funds have recently made changes to their positions in the stock. Nykredit A S purchased a new position in Intuitive Machines during the second quarter valued at approximately $25,000. International Assets Investment Management LLC purchased a new stake in Intuitive Machines in the 4th quarter worth approximately $28,000. State of Wyoming purchased a new stake in Intuitive Machines in the 1st quarter worth approximately $39,000. Larson Financial Group LLC lifted its position in Intuitive Machines by 63.2% in the 4th quarter. Larson Financial Group LLC now owns 2,623 shares of the company’s stock worth $43,000 after buying an additional 1,016 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Intuitive Machines by 34.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company’s stock valued at $52,000 after buying an additional 712 shares during the period. 72.21% of the stock is owned by hedge funds and other institutional investors.

About Intuitive Machines

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA’s Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.