Intuitive Machines (NASDAQ:LUNR) Stock Price Expected to Rise, Bank of America Analyst Says

Key Points

• Bank of America raised Intuitive Machines’ price target to $13 from $11 but maintained an “underperform” rating, implying roughly 15% downside from the stock’s $15.34 trading price.
• Analyst sentiment is mixed but averages to a “Moderate Buy,” with seven Buy, one Hold and two Sell ratings and an average price target of $30.50.
• The company missed quarterly expectations, reporting an adjusted loss of $0.29 per share versus the expected $0.09 loss and revenue of $206.17 million versus estimates of $212.32 million; insiders sold more than $165 million of stock over the past 90 days.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) had its target price upped by analysts at Bank of America from $11.00 to $13.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "underperform" rating on the stock. Bank of America's price target suggests a potential downside of 15.25% from the company's current price.

A number of other analysts have also recently weighed in on LUNR. Roth Capital set a $30.00 price target on shares of Intuitive Machines in a research note on Thursday, August 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Intuitive Machines in a report on Friday, July 17th. Stifel Nicolaus upgraded shares of Intuitive Machines from a "hold" rating to a "buy" rating and decreased their target price for the stock from $32.00 to $26.00 in a research note on Friday, August 14th. Zacks Research raised Intuitive Machines from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 14th. Finally, Wall Street Zen upgraded Intuitive Machines from a "strong sell" rating to a "sell" rating in a research report on Sunday, May 24th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, Intuitive Machines currently has an average rating of "Moderate Buy" and an average target price of $30.50.

Intuitive Machines Stock Down 0.2%

LUNR traded down $0.03 during trading on Monday, hitting $15.34. 2,506,421 shares of the stock were exchanged, compared to its average volume of 12,615,688. The firm has a market capitalization of $3.51 billion, a P/E 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. The stock has a fifty day moving average price of $16.51 and a two-hundred day moving average price of $21.83.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate 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. Analysts predict that Intuitive Machines will post -0.64 EPS for the current 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 on Tuesday, July 28th. The stock was sold at an average price of $12.84, for a total value of $147,602,399.76. Following the completion of the sale, the insider owned 11,495,514 shares of the company's stock, valued at approximately $147,602,399.76. This trade represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Vontur sold 3,050 shares of the business's stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $16.13, for a total transaction of $49,196.50. Following the sale, the insider directly owned 113,997 shares in the company, valued at approximately $1,838,771.61. This represents a 2.61% decrease in their position. 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. Insiders sold a total of 12,407,363 shares of company stock valued at $165,432,504 over the last ninety days. 54.10% of the stock is currently owned by company insiders.

Institutional Trading of Intuitive Machines

Large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in shares of Intuitive Machines by 34.2% in the first quarter. PNC Financial Services Group Inc. now owns 2,793 shares of the company's stock worth $52,000 after acquiring an additional 712 shares during the last quarter. Sigma Planning Corp grew its holdings in Intuitive Machines by 8.8% in the fourth quarter. Sigma Planning Corp now owns 10,947 shares of the company's stock valued at $178,000 after purchasing an additional 886 shares during the period. Nations Financial Group Inc. IA ADV increased its position in Intuitive Machines by 9.9% during the first quarter. Nations Financial Group Inc. IA ADV now owns 11,080 shares of the company's stock worth $206,000 after purchasing an additional 1,000 shares during the last quarter. Larson Financial Group LLC raised its stake in Intuitive Machines by 63.2% during the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company's stock worth $43,000 after purchasing an additional 1,016 shares during the period. Finally, Nykredit A S purchased a new position in Intuitive Machines during the second quarter worth approximately $25,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source