Canaccord Genuity Group Has Lowered Expectations for Intuitive Machines (NASDAQ:LUNR) Stock Price

Key Points

• Canaccord Genuity cut its target on Intuitive Machines (LUNR) from $18.50 to $15.50 but kept a "buy" rating, implying roughly 61.6% upside from the recent close.
• Consensus from analysts is a Moderate Buy (10 Buys, 1 Hold, 3 Sells) with an average target of $15.40; the stock trades around $9.59, has a $1.71B market cap, a negative P/E, and recently missed EPS and revenue estimates.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) had its target price decreased by equities research analysts at Canaccord Genuity Group from $18.50 to $15.50 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective suggests a potential upside of 61.63% from the company's previous close.

A number of other equities research analysts have also issued reports on LUNR. Deutsche Bank Aktiengesellschaft set a $18.00 price target on shares of Intuitive Machines and gave the company a "buy" rating in a report on Friday, October 17th. Zacks Research raised shares of Intuitive Machines to a "strong sell" rating in a research note on Monday, August 11th. Roth Capital restated a "buy" rating on shares of Intuitive Machines in a report on Tuesday. Craig Hallum started coverage on Intuitive Machines in a report on Tuesday, July 22nd. They set a "buy" rating and a $17.00 price target on the stock. Finally, UBS Group reissued a "buy" rating on shares of Intuitive Machines in a research report on Monday, August 18th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $15.40.

Intuitive Machines Stock Performance

Shares of NASDAQ:LUNR traded up $0.03 during midday trading on Friday, reaching $9.59. The company had a trading volume of 8,691,066 shares, compared to its average volume of 9,668,894. Intuitive Machines has a 1-year low of $6.14 and a 1-year high of $24.95. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -2.96 and a beta of 1.42. The company has a fifty day simple moving average of $10.69 and a two-hundred day simple moving average of $10.56.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The business had revenue of $50.31 million during the quarter, compared to analysts' expectations of $69.19 million. Analysts expect that Intuitive Machines will post 0.73 EPS for the current year.

Institutional Trading of Intuitive Machines

Large investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC raised its holdings in shares of Intuitive Machines by 180.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company's stock valued at $30,000 after purchasing an additional 1,800 shares in the last quarter. Nisa Investment Advisors LLC increased its position in Intuitive Machines by 35.6% during the second quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company's stock worth $47,000 after buying an additional 1,127 shares during the last quarter. Sigma Planning Corp bought a new position in Intuitive Machines during the first quarter valued at about $78,000. Philadelphia Trust Co. lifted its position in shares of Intuitive Machines by 10.0% in the first quarter. Philadelphia Trust Co. now owns 11,000 shares of the company's stock worth $82,000 after buying an additional 1,000 shares during the last quarter. Finally, IPG Investment Advisors LLC bought a new stake in shares of Intuitive Machines during the 1st quarter worth about $89,000. 72.21% of the stock is 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.

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