KeyCorp Has Lowered Expectations for Intuitive Machines (NASDAQ:LUNR) Stock Price

Key Points

• KeyCorp cut its price target for Intuitive Machines from $38 to $30 while maintaining an “overweight” rating, implying substantial upside from the stock’s prior close.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $30.88, with seven Buy ratings and three Sell ratings.
• Intuitive Machines opened at $10.67, well below its 50-day and 200-day moving averages, after reporting a quarterly EPS loss of $0.29 that missed estimates and revenue below expectations.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) had its target price cut by research analysts at KeyCorp from $38.00 to $30.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has an "overweight" rating on the stock. KeyCorp's target price indicates a potential upside of 181.16% from the stock's previous close.

A number of other equities analysts have also weighed in on LUNR. Canaccord Genuity Group dropped their target price on shares of Intuitive Machines from $41.00 to $39.00 and set a "buy" rating for the company in a research report on Tuesday, August 18th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Intuitive Machines in a report on Thursday, October 15th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Intuitive Machines in a research note on Monday, September 21st. Bank of America raised their price target on shares of Intuitive Machines from $11.00 to $13.00 and gave the stock an "underperform" rating in a research report on Monday, August 31st. Finally, Stifel Nicolaus raised Intuitive Machines from a "hold" rating to a "buy" rating and cut their price target for the stock from $32.00 to $26.00 in a research report on Friday, August 14th. Seven analysts have rated the stock with a Buy rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $30.88.

Intuitive Machines Price Performance

Shares of NASDAQ LUNR opened at $10.67 on Monday. The stock has a market capitalization of $2.44 billion, a PE ratio of -11.23 and a beta of 1.91. The business's fifty day moving average price is $13.86 and its 200-day moving average price is $19.70. Intuitive Machines has a one year low of $7.78 and a one year high of $46.75.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its quarterly 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 for the quarter, compared to analysts' expectations of $212.32 million. As a group, equities analysts expect that Intuitive Machines will post -0.60 EPS for the current fiscal year.

Insider Activity

In related news, SVP Timothy Crain, II sold 50,000 shares of Intuitive Machines stock in a transaction that occurred on Monday, September 21st. The shares were sold at an average price of $15.05, for a total value of $752,500.00. Following the completion of the transaction, the senior vice president owned 351,279 shares in the company, valued at approximately $5,286,748.95. The trade was a 12.46% decrease in their ownership of the stock. 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 Kamal Ghaffarian sold 1,698 shares of the company's stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $16.00, for a total value of $27,168.00. Following the sale, the director owned 3,494,768 shares in the company, valued at approximately $55,916,288. This trade represents a 0.05% decrease in their position. 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. Over the last ninety days, insiders sold 658,711 shares of company stock valued at $10,402,436. 54.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LUNR. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Intuitive Machines in the 3rd quarter valued at about $98,725,000. Tema ETFs LLC boosted its holdings in Intuitive Machines by 139,768.2% in the second quarter. Tema ETFs LLC now owns 3,105,074 shares of the company's stock valued at $66,418,000 after purchasing an additional 3,102,854 shares during the last quarter. Tidal Investments LLC bought a new stake in shares of Intuitive Machines in the second quarter worth $64,452,000. Renaissance Technologies LLC bought a new position in Intuitive Machines during the 1st quarter worth approximately $35,895,000. Finally, Bank of America Corp DE lifted its holdings in Intuitive Machines by 188.9% in the first quarter. Bank of America Corp DE now owns 1,882,973 shares of the company's stock worth $34,948,000 after acquiring an additional 1,231,188 shares during the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

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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