Intuitive Machines (NASDAQ:LUNR) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Intuitive Machines (NASDAQ:LUNR) from a hold rating to a strong sell rating in a research note published on Tuesday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Cantor Fitzgerald boosted their target price on shares of Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $34.00 target price on shares of Intuitive Machines in a research note on Wednesday. Wall Street Zen cut shares of Intuitive Machines from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Roth Mkm boosted their target price on shares of Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, April 17th. Finally, Stifel Nicolaus set a $32.00 target price on shares of Intuitive Machines in a research note on Friday, May 15th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $29.65.

Intuitive Machines Price Performance

Shares of NASDAQ:LUNR opened at $33.67 on Tuesday. The company’s 50 day simple moving average is $24.33 and its 200 day simple moving average is $18.31. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of -38.26 and a beta of 1.47. Intuitive Machines has a 1 year low of $7.78 and a 1 year high of $38.55.

Intuitive Machines (NASDAQ:LUNR) last posted its earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The business had revenue of $186.73 million for the quarter, compared to analysts’ expectations of $202.95 million. As a group, analysts anticipate that Intuitive Machines will post -0.45 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 150,000 shares of Intuitive Machines stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $17.55, for a total transaction of $2,632,500.00. Following the transaction, the senior vice president owned 359,726 shares in the company, valued at approximately $6,313,191.30. The trade was a 29.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Peter Mcgrath sold 24,554 shares of Intuitive Machines stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total transaction of $579,719.94. Following the transaction, the chief financial officer owned 401,246 shares in the company, valued at approximately $9,473,418.06. This trade represents a 5.77% 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. Insiders have sold a total of 1,048,206 shares of company stock worth $24,782,839 in the last three months. 54.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds have recently modified their holdings of LUNR. Trustees of the University of Pennsylvania acquired a new position in shares of Intuitive Machines during the fourth quarter worth $52,689,000. First Trust Advisors LP lifted its holdings in Intuitive Machines by 3,582.9% in the third quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock valued at $25,809,000 after buying an additional 2,386,688 shares during the period. Renaissance Technologies LLC acquired a new position in Intuitive Machines in the first quarter valued at $35,895,000. Jump Financial LLC lifted its holdings in Intuitive Machines by 5,262.9% in the third quarter. Jump Financial LLC now owns 1,339,872 shares of the company’s stock valued at $14,095,000 after buying an additional 1,314,888 shares during the period. Finally, Bank of America Corp DE lifted its holdings in 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 valued at $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 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.