Intuitive Machines (NASDAQ:LUNR) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Intuitive Machines (NASDAQ:LUNR) from a strong sell rating to a hold rating in a report released on Tuesday,Zacks.com reports.

Several other research firms have also recently commented on LUNR. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $34.00 target price on shares of Intuitive Machines in a research note on Wednesday, May 20th. Cantor Fitzgerald lifted their price target on shares of Intuitive Machines from $26.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 19th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a report on Tuesday, April 21st. Canaccord Genuity Group increased their price objective on shares of Intuitive Machines from $24.00 to $41.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Roth Capital raised their price objective on shares of Intuitive Machines from $25.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, April 17th. Eight equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Intuitive Machines Stock Performance

Shares of NASDAQ LUNR opened at $14.85 on Tuesday. Intuitive Machines has a 1 year low of $7.78 and a 1 year high of $46.75. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of -16.88 and a beta of 1.78. The stock’s 50-day simple moving average is $27.32 and its 200-day simple moving average is $22.59.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The company had revenue of $186.73 million during the quarter, compared to analysts’ expectations of $202.95 million. As a group, research analysts predict that Intuitive Machines will post -0.36 EPS for the current year.

Insider Activity

In related news, SVP Timothy Price Crain II sold 150,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $21.87, for a total value of $3,280,500.00. Following the sale, the senior vice president owned 351,279 shares of the company’s stock, valued at approximately $7,682,471.73. This trade represents a 29.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director William John Liquori, Jr. sold 18,321 shares of the business’s stock in a transaction that occurred on 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 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 SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 1,019,775 shares of company stock valued at $28,399,292. 54.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuitive Machines

Several large investors have recently added to or reduced their stakes in LUNR. International Assets Investment Management LLC acquired a new position in shares of Intuitive Machines during the fourth quarter valued at $28,000. State of Wyoming acquired a new stake in shares of Intuitive Machines in the 1st quarter worth about $39,000. GAMMA Investing LLC lifted its position in Intuitive Machines by 41.5% in the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company’s stock valued at $43,000 after purchasing an additional 781 shares during the last quarter. 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 valued at $43,000 after purchasing an additional 1,016 shares during the last quarter. Finally, CWM LLC boosted its stake in Intuitive Machines by 406.4% during the 4th quarter. CWM LLC now owns 2,912 shares of the company’s stock valued at $47,000 after purchasing an additional 2,337 shares during the period. 72.21% of the stock is owned by institutional investors and hedge funds.

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.