Canaccord Genuity Group Lowers Intuitive Machines (NASDAQ:LUNR) Price Target to $18.50

Key Points

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Intuitive Machines (NASDAQ:LUNR - Get Free Report) had its price objective lowered by equities research analysts at Canaccord Genuity Group from $19.00 to $18.50 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Canaccord Genuity Group's price target would suggest a potential upside of 107.05% from the stock's current price.

A number of other analysts also recently commented on the company. Zacks Research upgraded Intuitive Machines to a "strong sell" rating in a research note on Monday, August 11th. Roth Capital reaffirmed a "buy" rating on shares of Intuitive Machines in a report on Tuesday, May 13th. Cantor Fitzgerald upped their price target on Intuitive Machines from $13.00 to $16.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. Craig Hallum assumed coverage on Intuitive Machines in a report on Tuesday, July 22nd. They set a "buy" rating and a $17.00 target price for the company. Finally, UBS Group reissued a "buy" rating on shares of Intuitive Machines in a report on Monday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Intuitive Machines presently has an average rating of "Moderate Buy" and a consensus price target of $15.30.

Intuitive Machines Price Performance

Intuitive Machines stock traded down $0.15 during trading hours on Tuesday, hitting $8.94. 1,414,918 shares of the stock traded hands, compared to its average volume of 10,491,430. The firm's 50 day moving average price is $10.89 and its 200-day moving average price is $11.13. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -2.76 and a beta of 1.40. Intuitive Machines has a 1 year low of $4.50 and a 1 year high of $24.95.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.05). The firm had revenue of $50.31 million during the quarter, compared to analysts' expectations of $69.19 million. Research analysts forecast that Intuitive Machines will post 0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Kamal Seyed Ghaffarian sold 80,508 shares of the stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $12.05, for a total value of $970,121.40. Following the completion of the transaction, the director directly owned 3,494,768 shares in the company, valued at approximately $42,111,954.40. This represents a 2.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 201,270 shares of company stock valued at $2,481,659 in the last ninety days. Corporate insiders own 39.75% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LUNR. Gotham Asset Management LLC purchased a new position in shares of Intuitive Machines during the first quarter worth $15,739,000. Two Sigma Investments LP purchased a new position in shares of Intuitive Machines during the fourth quarter worth $33,255,000. Voya Investment Management LLC purchased a new position in shares of Intuitive Machines during the first quarter worth $11,311,000. Geode Capital Management LLC boosted its position in shares of Intuitive Machines by 78.6% during the second quarter. Geode Capital Management LLC now owns 2,593,135 shares of the company's stock worth $28,191,000 after buying an additional 1,141,454 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of Intuitive Machines by 3,991.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company's stock worth $21,102,000 after buying an additional 1,133,581 shares during the period. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

Intuitive Machines Company Profile

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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