Bank of America Issues Positive Forecast for Intuitive Machines (NASDAQ:LUNR) Stock Price

Intuitive Machines (NASDAQ:LUNR) had its target price lifted by Bank of America from $11.00 to $13.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Bank of America‘s price objective points to a potential downside of 15.25% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. B. Riley Financial dropped their price objective on shares of Intuitive Machines from $45.00 to $43.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Zacks Research upgraded shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 14th. Stifel Nicolaus raised shares of Intuitive Machines from a “hold” rating to a “buy” rating and decreased their price target for the stock from $32.00 to $26.00 in a research report on Friday, August 14th. Wall Street Zen upgraded Intuitive Machines from a “strong sell” rating to a “sell” rating in a report on Sunday, May 24th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Intuitive Machines in a research report on Friday, July 17th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Intuitive Machines Trading Down 0.2%

Shares of Intuitive Machines stock traded down $0.03 during trading hours on Monday, reaching $15.34. The stock had a trading volume of 2,506,421 shares, compared to its average volume of 12,615,688. The firm has a 50 day simple moving average of $16.51 and a two-hundred day simple moving average of $21.83. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of -16.15 and a beta of 1.83. Intuitive Machines has a 1 year low of $7.78 and a 1 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 firm had revenue of $206.17 million during the quarter, compared to analyst estimates of $212.32 million. Sell-side analysts forecast that Intuitive Machines will post -0.64 EPS for the current year.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, Director William John Liquori, Jr. sold 18,321 shares of the company’s 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 completion of the transaction, the director directly owned 68,875 shares of the company’s stock, valued at $2,057,296.25. This represents a 21.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Timothy Price Crain II sold 150,000 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $21.87, for a total transaction of $3,280,500.00. Following the completion of the transaction, the senior vice president directly owned 351,279 shares of the company’s stock, valued at approximately $7,682,471.73. The trade was a 29.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 12,407,363 shares of company stock worth $165,432,504. 54.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of LUNR. Trustees of the University of Pennsylvania purchased a new stake in Intuitive Machines during the 4th quarter worth approximately $52,689,000. Tema ETFs LLC boosted its stake in shares of Intuitive Machines by 139,768.2% during the 2nd quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock valued at $66,418,000 after buying an additional 3,102,854 shares during the last quarter. California State Teachers Retirement System boosted its stake in shares of Intuitive Machines by 2,309.3% during the 2nd quarter. California State Teachers Retirement System now owns 3,046,364 shares of the company’s stock valued at $65,162,000 after buying an additional 2,919,922 shares during the last quarter. First Trust Advisors LP grew its position in shares of Intuitive Machines by 3,582.9% during the third quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock worth $25,809,000 after buying an additional 2,386,688 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Intuitive Machines during the first quarter worth approximately $35,895,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

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.