Canaccord Genuity Group Cuts 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 research analysts at Canaccord Genuity Group from $19.00 to $18.50 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price target would suggest a potential upside of 106.24% from the company's current price.

LUNR has been the subject of a number of other research reports. Cantor Fitzgerald raised their price target on shares of Intuitive Machines from $13.00 to $16.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Zacks Research raised shares of Intuitive Machines to a "strong sell" rating in a research report on Monday, August 11th. Craig Hallum initiated coverage on shares of Intuitive Machines in a research report on Tuesday, July 22nd. They set a "buy" rating and a $17.00 price target for the company. Barclays initiated coverage on shares of Intuitive Machines in a research report on Thursday, May 22nd. They set a "neutral" rating for the company. Finally, Roth Capital reissued a "buy" rating on shares of Intuitive Machines in a research report on Tuesday, May 13th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Intuitive Machines has an average rating of "Moderate Buy" and a consensus target price of $15.30.

Intuitive Machines Stock Up 3.8%

Shares of LUNR traded up $0.33 during mid-day trading on Tuesday, reaching $8.97. 6,190,597 shares of the stock traded hands, compared to its average volume of 8,636,909. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -2.77 and a beta of 1.40. The stock has a fifty day simple moving average of $10.72 and a 200 day simple moving average of $10.86. Intuitive Machines has a 12-month low of $4.50 and a 12-month high of $24.95.

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 analysts' consensus estimates of ($0.06) by ($0.05). The firm had revenue of $50.31 million for the quarter, compared to the consensus estimate of $69.19 million. Intuitive Machines has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Intuitive Machines will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 80,508 shares of Intuitive Machines stock in a transaction on Friday, July 11th. The shares were sold at an average price of $12.05, for a total value of $970,121.40. Following the completion of the transaction, the director owned 3,494,768 shares of the company's stock, valued at $42,111,954.40. The trade was a 2.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have sold a total of 201,270 shares of company stock valued at $2,481,659 over the last three months. Insiders own 39.75% of the company's stock.

Hedge Funds Weigh In On Intuitive Machines

Hedge funds have recently added to or reduced their stakes in the business. Palisades Investment Partners LLC acquired a new position in Intuitive Machines in the first quarter worth $2,993,000. Bank of America Corp DE boosted its holdings in shares of Intuitive Machines by 209.0% during the fourth quarter. Bank of America Corp DE now owns 57,192 shares of the company's stock valued at $1,039,000 after acquiring an additional 38,684 shares during the period. ARK Investment Management LLC acquired a new position in shares of Intuitive Machines during the first quarter valued at $5,531,000. Hussman Strategic Advisors Inc. acquired a new position in shares of Intuitive Machines during the first quarter valued at $1,095,000. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Intuitive Machines during the first quarter valued at $1,935,000. Institutional investors and hedge funds own 72.21% of the company's stock.

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.