Intuitive Machines (NASDAQ:LUNR) Upgraded at Zacks Research

Key Points

• Zacks Research upgraded Intuitive Machines (NASDAQ:LUNR) from “strong sell” to “hold,” even as the broader analyst view remains cautiously positive with a consensus rating of Moderate Buy and an average target price of $31.50.
• The stock was trading down 0.4% at $14.85, well below its 50-day and 200-day moving averages, reflecting ongoing volatility after a wide 1-year trading range of $7.78 to $46.75.
• The company recently missed earnings expectations, reporting a loss of $0.25 per share versus the expected $0.07 loss, while revenue also came in below estimates at $186.73 million.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) was upgraded by stock analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus set a $32.00 price target on shares of Intuitive Machines in a research report on Friday, May 15th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $34.00 price objective on shares of Intuitive Machines in a research report on Wednesday, May 20th. Weiss Ratings reissued a "sell (d-)" rating on shares of Intuitive Machines in a research note on Tuesday, April 21st. Roth Capital lifted their price target on shares of Intuitive Machines from $25.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, April 17th. Finally, Cantor Fitzgerald upped their price target on shares of Intuitive Machines from $26.00 to $43.00 and gave the company an "overweight" rating in a report on Tuesday, May 19th. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.50.

Intuitive Machines Trading Down 0.4%

Shares of LUNR opened at $14.85 on Tuesday. The stock has a 50 day simple moving average of $27.32 and a 200-day simple moving average of $22.59. Intuitive Machines has a 1 year low of $7.78 and a 1 year high of $46.75. The stock has a market cap of $3.22 billion, a PE ratio of -16.88 and a beta of 1.78.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its earnings results on Thursday, May 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.18). The firm had revenue of $186.73 million for the quarter, compared to the consensus estimate of $202.95 million. On average, sell-side analysts forecast that Intuitive Machines will post -0.36 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other Intuitive Machines news, Director William John Liquori, Jr. sold 18,321 shares of the business's stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $29.87, for a total value of $547,248.27. Following the sale, the director owned 68,875 shares in the company, valued at approximately $2,057,296.25. The trade was a 21.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Timothy Price Crain II sold 150,000 shares of the firm's stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $21.87, for a total transaction of $3,280,500.00. Following the transaction, the senior vice president directly owned 351,279 shares of the company's stock, valued at $7,682,471.73. This represents a 29.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,019,775 shares of company stock worth $28,399,292. Corporate insiders own 54.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its position in Intuitive Machines by 19.7% during the 1st quarter. Invesco Ltd. now owns 16,092 shares of the company's stock worth $120,000 after buying an additional 2,643 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Intuitive Machines by 43.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,715 shares of the company's stock worth $184,000 after acquiring an additional 7,528 shares in the last quarter. Caxton Associates LLP bought a new stake in Intuitive Machines during the first quarter worth about $139,000. Creative Planning boosted its position in Intuitive Machines by 29.3% during the second quarter. Creative Planning now owns 30,407 shares of the company's stock valued at $331,000 after purchasing an additional 6,886 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in Intuitive Machines by 15.3% during the second quarter. Cetera Investment Advisers now owns 18,835 shares of the company's stock valued at $205,000 after purchasing an additional 2,506 shares during the last quarter. Institutional investors own 72.21% of the company's stock.

Intuitive Machines Company Profile

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA's Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.

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