Bank of America Lowers Intuitive Machines (NASDAQ:LUNR) Price Target to $10.50

Intuitive Machines (NASDAQ:LUNR) had its price target decreased by Bank of America from $16.00 to $10.50 in a research report sent to investors on Wednesday,Benzinga reports. Bank of America currently has an underperform rating on the stock.

LUNR has been the topic of a number of other research reports. Roth Capital restated a “buy” rating on shares of Intuitive Machines in a report on Tuesday, May 13th. Canaccord Genuity Group raised their target price on Intuitive Machines from $21.00 to $21.50 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Barclays began coverage on Intuitive Machines in a report on Thursday, May 22nd. They set a “neutral” rating on the stock. B. Riley reiterated a “buy” rating on shares of Intuitive Machines in a report on Tuesday, March 25th. Finally, Benchmark reiterated a “buy” rating and set a $16.00 price objective on shares of Intuitive Machines in a report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.44.

Intuitive Machines Stock Up 1.3%

Shares of LUNR stock opened at $12.41 on Wednesday. The stock has a 50-day moving average price of $11.12 and a 200 day moving average price of $12.58. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of -4.55 and a beta of 1.41. Intuitive Machines has a 12 month low of $3.15 and a 12 month high of $24.95.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.10). The company had revenue of $62.52 million during the quarter, compared to analysts’ expectations of $66.07 million. Sell-side analysts predict that Intuitive Machines will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Kamal Seyed Ghaffarian sold 80,508 shares of Intuitive Machines stock in a transaction that occurred on Friday, July 11th. The stock was sold at an average price of $12.05, for a total value of $970,121.40. Following the sale, the director owned 3,494,768 shares of the company’s stock, valued at approximately $42,111,954.40. This trade represents a 2.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Peter Mcgrath sold 72,168 shares of Intuitive Machines stock in a transaction that occurred 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 directly owned 366,824 shares in the company, valued at approximately $4,401,888. This represents a 16.44% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 353,946 shares of company stock worth $4,269,089. 39.75% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuitive Machines

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Philadelphia Trust Co. raised its position in Intuitive Machines by 10.0% in the 1st quarter. Philadelphia Trust Co. now owns 11,000 shares of the company’s stock valued at $82,000 after buying an additional 1,000 shares during the last quarter. Invesco Ltd. increased its position in shares of Intuitive Machines by 8.3% during the 4th quarter. Invesco Ltd. now owns 13,449 shares of the company’s stock worth $244,000 after purchasing an additional 1,026 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Intuitive Machines by 10.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,187 shares of the company’s stock worth $312,000 after purchasing an additional 1,566 shares during the last quarter. Quarry LP acquired a new position in shares of Intuitive Machines during the 4th quarter worth approximately $44,000. Finally, Bank of New York Mellon Corp increased its position in shares of Intuitive Machines by 3.7% during the 4th quarter. Bank of New York Mellon Corp now owns 70,740 shares of the company’s stock worth $1,285,000 after purchasing an additional 2,499 shares during the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

Intuitive Machines Company Profile

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.