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

Intuitive Machines (NASDAQ:LUNR - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Tuesday, Zacks reports.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus upgraded shares of Intuitive Machines from a "hold" rating to a "buy" rating and cut their price target for the company from $32.00 to $26.00 in a report on Friday, August 14th. Bank of America boosted their price objective on shares of Intuitive Machines from $11.00 to $13.00 and gave the stock an "underperform" rating in a report on Monday, August 31st. B. Riley Financial lowered their price objective on Intuitive Machines from $43.00 to $34.00 and set a "buy" rating on the stock in a research report on Wednesday, November 4th. Roth Capital set a $30.00 price objective on Intuitive Machines in a research report on Thursday, August 13th. Finally, Canaccord Genuity Group cut their target price on Intuitive Machines from $41.00 to $39.00 and set a "buy" rating on the stock in a research note on Tuesday, August 18th. Seven research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $29.75.

Intuitive Machines Price Performance

Shares of Intuitive Machines stock opened at $12.18 on Tuesday. Intuitive Machines has a 1 year low of $7.78 and a 1 year high of $46.75. The firm's 50-day moving average is $12.98 and its 200 day moving average is $19.33. The stock has a market cap of $2.79 billion, a price-to-earnings ratio of -12.82 and a beta of 1.91.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.20). The business had revenue of $206.17 million for the quarter, compared to analyst estimates of $212.32 million. On average, equities analysts expect that Intuitive Machines will post -0.60 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Steven Vontur sold 3,050 shares of Intuitive Machines stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $16.13, for a total value of $49,196.50. Following the completion of the sale, the insider directly owned 113,997 shares in the company, valued at $1,838,771.61. The trade was a 2.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Kamal Ghaffarian sold 141,909 shares of the business's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $16.87, for a total transaction of $2,394,004.83. Following the transaction, the director directly owned 3,494,768 shares of the company's stock, valued at $58,956,736.16. The trade was a 3.90% 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 391,263 shares of company stock valued at $6,077,802. 54.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. bought a new stake in Intuitive Machines in the 3rd quarter worth approximately $28,000. Private Advisor Group LLC lifted its holdings in shares of Intuitive Machines by 49.9% during the 3rd quarter. Private Advisor Group LLC now owns 21,488 shares of the company's stock valued at $306,000 after buying an additional 7,150 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Intuitive Machines by 38.4% during the 3rd quarter. Harbour Investments Inc. now owns 11,938 shares of the company's stock valued at $170,000 after buying an additional 3,310 shares during the period. Moors & Cabot Inc. lifted its holdings in shares of Intuitive Machines by 27.0% during the 3rd quarter. Moors & Cabot Inc. now owns 16,700 shares of the company's stock valued at $238,000 after buying an additional 3,550 shares during the period. Finally, Pier 88 Investment Partners LLC boosted its stake in shares of Intuitive Machines by 85.4% in the 3rd quarter. Pier 88 Investment Partners LLC now owns 19,100 shares of the company's stock worth $272,000 after buying an additional 8,800 shares during the last quarter. Institutional investors own 72.21% of the company's stock.

About Intuitive Machines

Intuitive Machines is a space exploration and infrastructure company headquartered in Houston, Texas. It develops and operates lunar landers and provides services intended to support missions to the Moon and other space destinations. The company's offerings include lunar payload delivery, spacecraft and mission operations, and communications and data services. Its Nova-C lunar lander is designed to carry scientific instruments and other customer payloads to the lunar surface, including through NASA's Commercial Lunar Payload Services program.

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