Intuitive Machines, Inc. (NASDAQ:LUNR) Stock Has Average Price Target of $30.50

Key Points

• Analysts hold a mixed view: Intuitive Machines has a consensus “Hold” rating, with three sell and seven buy recommendations, and an average 12-month price target of $30.50.
• The stock has declined sharply: Shares opened at $10.45, below their 50-day and 200-day moving averages, after trading between $7.78 and $46.75 over the past year.
• Recent results fell short of expectations: The company reported a quarterly loss of $0.29 per share versus the expected $0.09 loss and revenue of $206.17 million versus the $212.32 million consensus estimate. Insiders have sold more than $158 million of stock over the past 90 days.

Shares of Intuitive Machines, Inc. (NASDAQ:LUNR - Get Free Report) have received a consensus rating of "Hold" from the ten research firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $30.50.

A number of analysts have weighed in on the company. Stifel Nicolaus raised Intuitive Machines from a "hold" rating to a "buy" rating and decreased their price objective for the stock from $32.00 to $26.00 in a research report on Friday, August 14th. Weiss Ratings restated a "sell (d-)" rating on shares of Intuitive Machines in a research note on Thursday, October 15th. Roth Capital set a $30.00 price objective on Intuitive Machines in a research report on Thursday, August 13th. B. Riley Financial cut their price objective on Intuitive Machines from $45.00 to $43.00 and set a "buy" rating for the company in a research report on Friday, August 14th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Intuitive Machines in a report on Monday, September 21st.

Insider Buying and Selling

In related news, insider Steven Vontur sold 3,050 shares of the company's stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $16.13, for a total transaction of $49,196.50. Following the transaction, the insider owned 113,997 shares of the company's stock, valued at approximately $1,838,771.61. This represents a 2.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Timothy Crain, II sold 50,000 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $15.05, for a total value of $752,500.00. Following the transaction, the senior vice president owned 351,279 shares in the company, valued at $5,286,748.95. This trade represents a 12.46% decrease in their ownership of the stock. 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. In the last 90 days, insiders have sold 12,201,528 shares of company stock worth $158,629,235. 54.10% of the stock is owned by company insiders.

Institutional Trading of Intuitive Machines

A number of hedge funds and other institutional investors have recently modified their holdings of LUNR. Tema ETFs LLC lifted its position in shares of Intuitive Machines by 139,768.2% in the 2nd quarter. Tema ETFs LLC now owns 3,105,074 shares of the company's stock worth $66,418,000 after buying an additional 3,102,854 shares during the last quarter. Tidal Investments LLC acquired a new position in Intuitive Machines during the second quarter worth about $64,452,000. Renaissance Technologies LLC bought a new stake in Intuitive Machines in the first quarter worth about $35,895,000. Bank of America Corp DE raised its position 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 in the last quarter. Finally, First Trust Advisors LP lifted its holdings in Intuitive Machines by 28.8% in the 1st quarter. First Trust Advisors LP now owns 657,318 shares of the company's stock valued at $12,200,000 after acquiring an additional 147,095 shares during the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

Intuitive Machines Trading Down 4.2%

Shares of NASDAQ LUNR opened at $10.45 on Friday. The stock has a 50 day moving average of $14.73 and a two-hundred day moving average of $20.64. Intuitive Machines has a twelve month low of $7.78 and a twelve month high of $46.75. The stock has a market cap of $2.39 billion, a P/E ratio of -11.00 and a beta of 1.86.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.09) by ($0.20). The company had revenue of $206.17 million for the quarter, compared to analysts' expectations of $212.32 million. As a group, research analysts predict that Intuitive Machines will post -0.60 earnings per share for the current year.

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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