Intuitive Machines (NASDAQ:LUNR) Given New $10.50 Price Target at Bank of America

Intuitive Machines (NASDAQ:LUNR - Get Free Report) had its price target reduced by research analysts at Bank of America from $16.00 to $10.50 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "underperform" rating on the stock. Bank of America's target price suggests a potential downside of 14.31% from the stock's previous close.

Several other analysts also recently weighed in on LUNR. Canaccord Genuity Group boosted their price target on shares of Intuitive Machines from $21.00 to $21.50 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. B. Riley reaffirmed a "buy" rating on shares of Intuitive Machines in a research note on Tuesday, March 25th. Benchmark reissued a "buy" rating and issued a $16.00 price target on shares of Intuitive Machines in a report on Tuesday, March 25th. Cantor Fitzgerald boosted their price objective on shares of Intuitive Machines from $13.00 to $16.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Finally, Roth Capital reiterated a "buy" rating on shares of Intuitive Machines in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $15.44.

Intuitive Machines Stock Up 9.2%

Shares of NASDAQ LUNR traded up $1.03 during mid-day trading on Wednesday, reaching $12.25. 13,012,673 shares of the company were exchanged, compared to its average volume of 13,047,729. The stock has a market capitalization of $2.19 billion, a PE ratio of -4.48 and a beta of 1.41. Intuitive Machines has a 52 week low of $3.15 and a 52 week high of $24.95. The company's 50 day moving average price is $11.00 and its 200 day moving average price is $12.67.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.10). The firm had revenue of $62.52 million during the quarter, compared to analysts' expectations of $66.07 million. On average, sell-side analysts predict that Intuitive Machines will post 0.73 earnings per share for the current year.

Insider Buying and Selling

In other Intuitive Machines news, CFO Peter Mcgrath sold 72,168 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $12.00, for a total transaction of $866,016.00. Following the completion of the sale, the chief financial officer directly owned 366,824 shares in the company, valued at approximately $4,401,888. This trade represents a 16.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 161,016 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $12.10, for a total transaction of $1,948,293.60. Following the completion of the transaction, the director owned 3,494,768 shares of the company's stock, valued at approximately $42,286,692.80. The trade was a 4.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 353,946 shares of company stock valued at $4,269,089. 39.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Machines

Several large investors have recently bought and sold shares of LUNR. Vanguard Group Inc. boosted its stake in shares of Intuitive Machines by 9.2% in the 1st quarter. Vanguard Group Inc. now owns 4,421,279 shares of the company's stock worth $32,939,000 after buying an additional 373,741 shares during the last quarter. Gotham Asset Management LLC bought a new stake in Intuitive Machines during the first quarter valued at approximately $15,739,000. Two Sigma Investments LP purchased a new stake in Intuitive Machines during the fourth quarter valued at approximately $33,255,000. Voya Investment Management LLC bought a new position in Intuitive Machines in the first quarter worth approximately $11,311,000. Finally, Renaissance Technologies LLC raised its position in Intuitive Machines by 99.6% in the fourth quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company's stock worth $22,170,000 after acquiring an additional 609,118 shares during the period. 72.21% of the stock is currently owned by institutional investors.

About Intuitive Machines

Intuitive Machines, Inc designs, manufactures, and operates space products and services in the United States. Its space systems and space infrastructure enable scientific and human exploration and utilization of lunar resources to support sustainable human presence on the moon. The company offers lunar access services, such µNova, lunar surface rover services, fixed lunar surface services, lunar orbit delivery services, rideshare delivery services to lunar orbit, as well as content sales and marketing sponsorships; and orbital services, including satellite delivery and rideshare, satellite servicing and refueling, space station servicing, satellite repositioning, and orbital debris removal.