Craig Hallum Begins Coverage on Intuitive Machines (NASDAQ:LUNR)

Equities researchers at Craig Hallum started coverage on shares of Intuitive Machines (NASDAQ:LUNR - Get Free Report) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $17.00 price target on the stock. Craig Hallum's target price indicates a potential upside of 34.76% from the company's previous close.

A number of other analysts also recently weighed in on LUNR. Benchmark reissued a "buy" rating and set a $16.00 price target on shares of Intuitive Machines in a research report on Tuesday, March 25th. Roth Capital reissued a "buy" rating on shares of Intuitive Machines in a research report on Tuesday, May 13th. Canaccord Genuity Group raised their price target on shares of Intuitive Machines from $21.00 to $21.50 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. B. Riley reissued a "buy" rating on shares of Intuitive Machines in a research report on Tuesday, March 25th. Finally, Bank of America decreased their price target on shares of Intuitive Machines from $16.00 to $10.50 and set an "underperform" rating for the company in a research report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, Intuitive Machines presently has an average rating of "Moderate Buy" and a consensus target price of $15.60.

Intuitive Machines Trading Down 1.4%

NASDAQ:LUNR traded down $0.18 during trading hours on Tuesday, hitting $12.62. The stock had a trading volume of 3,252,578 shares, compared to its average volume of 10,681,153. Intuitive Machines has a 1-year low of $3.15 and a 1-year high of $24.95. The business has a 50 day simple moving average of $11.20 and a two-hundred day simple moving average of $12.36. The company has a market cap of $2.25 billion, a PE ratio of -4.62 and a beta of 1.41.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its quarterly earnings data on Tuesday, May 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.10). The business had revenue of $62.52 million for the quarter, compared to the consensus estimate of $66.07 million. Research analysts expect that Intuitive Machines will post 0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 40,254 shares of the firm's stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $12.02, for a total value of $483,853.08. Following the sale, the director directly owned 3,494,768 shares in the company, valued at approximately $42,007,111.36. This trade represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Peter Mcgrath sold 72,168 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $12.00, for a total value of $866,016.00. Following the completion of the sale, the chief financial officer owned 366,824 shares in the company, valued at $4,401,888. The trade was a 16.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 394,200 shares of company stock worth $4,752,942 over the last quarter. 39.75% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Intuitive Machines by 9.2% during the first quarter. Vanguard Group Inc. now owns 4,421,279 shares of the company's stock valued at $32,939,000 after purchasing an additional 373,741 shares in the last quarter. Gotham Asset Management LLC bought a new stake in shares of Intuitive Machines during the first quarter valued at about $15,739,000. Two Sigma Investments LP bought a new stake in shares of Intuitive Machines during the fourth quarter valued at about $33,255,000. Voya Investment Management LLC bought a new stake in shares of Intuitive Machines during the first quarter valued at about $11,311,000. Finally, Renaissance Technologies LLC raised its stake in shares of Intuitive Machines by 99.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company's stock valued at $22,170,000 after purchasing an additional 609,118 shares in the last quarter. 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.