Intuitive Machines (NASDAQ:LUNR) Given New $34.00 Price Target at B. Riley Financial

Key Points

• B. Riley cut its price target on Intuitive Machines from $43 to $34 but kept a Buy rating; the new target implies 241% upside from the prior close.
• Analyst views are mixed: the consensus rating is Hold with a $29.75 target, despite seven Buy ratings and three Sell ratings.
• The company reported a quarterly loss of $0.29 per share, missing the $0.09 loss estimate, while revenue of $206.17 million also fell short of forecasts.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) had its target price lowered by equities research analysts at B. Riley Financial from $43.00 to $34.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the stock. B. Riley Financial's target price suggests a potential upside of 241.23% from the stock's previous close.

Several other equities research analysts also recently weighed in on LUNR. KeyCorp decreased their price target on shares of Intuitive Machines from $38.00 to $30.00 and set an "overweight" rating for the company in a research note on Monday. Canaccord Genuity Group reduced their target price 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. Roth Capital set a $30.00 target price on Intuitive Machines in a research report on Thursday, August 13th. Bank of America boosted their target price on Intuitive Machines from $11.00 to $13.00 and gave the company an "underperform" rating in a research report on Monday, August 31st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Intuitive Machines in a research note on Monday, September 21st. Seven research analysts have rated the stock with a Buy rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $29.75.

Intuitive Machines Stock Performance

Shares of LUNR stock traded down $0.52 during trading hours on Wednesday, hitting $9.96. 1,752,283 shares of the company were exchanged, compared to its average volume of 11,440,270. The firm has a market cap of $2.28 billion, a P/E ratio of -10.77 and a beta of 1.91. Intuitive Machines has a fifty-two week low of $7.78 and a fifty-two week high of $46.75. The company has a 50 day simple moving average of $13.57 and a two-hundred day simple moving average of $19.61.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last released 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 for the quarter, compared to the consensus estimate of $212.32 million. As a group, sell-side analysts expect that Intuitive Machines will post -0.60 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, Director Kamal Ghaffarian sold 1,698 shares of the firm's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $16.00, for a total value of $27,168.00. Following the transaction, the director directly owned 3,494,768 shares of the company's stock, valued at approximately $55,916,288. This trade represents a 0.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Vontur sold 3,050 shares of Intuitive Machines stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $16.13, for a total transaction of $49,196.50. Following the transaction, the insider owned 113,997 shares of the company's stock, valued at $1,838,771.61. This represents a 2.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 658,711 shares of company stock worth $10,402,436. 54.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

Several large investors have recently added to or reduced their stakes in the business. Ethic Inc. lifted its holdings in shares of Intuitive Machines by 50.5% in the third quarter. Ethic Inc. now owns 44,306 shares of the company's stock valued at $631,000 after purchasing an additional 14,871 shares in the last quarter. Kestra Advisory Services LLC grew its holdings in Intuitive Machines by 4.9% during the third quarter. Kestra Advisory Services LLC now owns 29,969 shares of the company's stock worth $427,000 after buying an additional 1,392 shares in the last quarter. Integrity Alliance LLC. bought a new stake in Intuitive Machines during the third quarter worth $156,000. Sumitomo Mitsui Trust Group Inc. raised its position in Intuitive Machines by 9.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 640,283 shares of the company's stock valued at $9,118,000 after buying an additional 54,497 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Intuitive Machines in the 3rd quarter valued at $98,725,000. Institutional investors own 72.21% of the company's stock.

Intuitive Machines Company Profile

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and operates spacecraft, lunar landers, and related systems designed to support missions to the Moon and other destinations. Its offerings include lunar payload delivery, spacecraft and satellite components, communications and navigation services, and data products for government and commercial customers.

Intuitive Machines is a major participant in NASA's Commercial Lunar Payload Services program, under which it delivers scientific and technology payloads to the lunar surface.

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