Analysts Set Intuitive Machines, Inc. (NASDAQ:LUNR) Target Price at $30.50

Intuitive Machines, Inc. (NASDAQ:LUNR) has been assigned an average recommendation of “Moderate Buy” from the ten brokerages that are currently covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $30.50.

LUNR has been the topic of several recent research reports. Stifel Nicolaus upgraded Intuitive Machines from a “hold” rating to a “buy” rating and cut their target price for the company from $32.00 to $26.00 in a report on Friday, August 14th. Bank of America raised their price objective on Intuitive Machines from $11.00 to $13.00 and gave the company an “underperform” rating in a research note on Monday, August 31st. Roth Capital set a $30.00 target price on Intuitive Machines in a report on Thursday, August 13th. B. Riley Financial lowered their price target on Intuitive Machines from $45.00 to $43.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $34.00 target price on shares of Intuitive Machines in a report on Wednesday, May 20th.

Insiders Place Their Bets

In other news, insider Steven Vontur sold 3,050 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $16.13, for a total value of $49,196.50. Following the completion of the sale, the insider directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder International L.P. Advent sold 11,495,514 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $12.84, for a total transaction of $147,602,399.76. Following the completion of the sale, the insider directly owned 11,495,514 shares of the company’s stock, valued at approximately $147,602,399.76. This trade represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,389,042 shares of company stock valued at $164,885,256 in the last three months. 54.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Trustees of the University of Pennsylvania bought a new position in Intuitive Machines during the 4th quarter valued at about $52,689,000. Tema ETFs LLC boosted its stake in Intuitive Machines by 139,768.2% in the second quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock worth $66,418,000 after purchasing an additional 3,102,854 shares in the last quarter. Tidal Investments LLC acquired a new position in Intuitive Machines during the 2nd quarter worth about $64,452,000. California State Teachers Retirement System grew its holdings in Intuitive Machines by 2,309.3% during the 2nd quarter. California State Teachers Retirement System now owns 3,046,364 shares of the company’s stock worth $65,162,000 after acquiring an additional 2,919,922 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Intuitive Machines by 3,582.9% in the third quarter. First Trust Advisors LP now owns 2,453,301 shares of the company’s stock worth $25,809,000 after acquiring an additional 2,386,688 shares during the last quarter. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Stock Down 4.7%

LUNR stock opened at $14.94 on Thursday. Intuitive Machines has a 12-month low of $7.78 and a 12-month high of $46.75. The company has a market cap of $3.42 billion, a price-to-earnings ratio of -15.73 and a beta of 1.85. The company has a 50 day moving average of $15.64 and a two-hundred day moving average of $21.71.

Intuitive Machines (NASDAQ:LUNR) last issued its earnings results on Thursday, August 13th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.20). The business had revenue of $206.17 million during the quarter, compared to the consensus estimate of $212.32 million. On average, research analysts anticipate that Intuitive Machines will post -0.6 EPS for the current year.

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.