Intuitive Machines (NASDAQ:LUNR) Stock Rating Lowered by Zacks Research

Intuitive Machines (NASDAQ:LUNR) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently commented on LUNR. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $34.00 price objective on shares of Intuitive Machines in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Intuitive Machines in a research report on Tuesday, April 21st. Cantor Fitzgerald lifted their price objective on Intuitive Machines from $26.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday. Wall Street Zen downgraded Intuitive Machines from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, B. Riley Financial lifted their price objective on Intuitive Machines to $45.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Eight investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $29.65.

Intuitive Machines Stock Up 3.7%

NASDAQ LUNR opened at $33.67 on Tuesday. Intuitive Machines has a fifty-two week low of $7.78 and a fifty-two week high of $38.55. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of -38.26 and a beta of 1.47. The business has a fifty day moving average of $24.33 and a 200-day moving average of $18.31.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings results on Thursday, May 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.18). The firm had revenue of $186.73 million during the quarter, compared to the consensus estimate of $202.95 million. As a group, analysts anticipate that Intuitive Machines will post -0.45 EPS for the current year.

Insider Buying and Selling

In other news, Director Kamal Seyed Ghaffarian sold 141,909 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $34.25, for a total value of $4,860,383.25. Following the completion of the sale, the director owned 3,494,768 shares of the company’s stock, valued at $119,695,804. This represents a 3.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Peter Mcgrath sold 24,554 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $23.61, for a total value of $579,719.94. Following the completion of the sale, the chief financial officer directly owned 401,246 shares of the company’s stock, valued at $9,473,418.06. The trade was a 5.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,048,206 shares of company stock worth $24,782,839 over the last three months. 54.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Intuitive Machines by 13.3% in the third quarter. Vanguard Group Inc. now owns 6,090,059 shares of the company’s stock worth $64,067,000 after acquiring an additional 717,256 shares in the last quarter. Trustees of the University of Pennsylvania acquired a new position in shares of Intuitive Machines in the fourth quarter worth about $52,689,000. UBS Group AG lifted its stake in shares of Intuitive Machines by 22.0% in the fourth quarter. UBS Group AG now owns 3,095,383 shares of the company’s stock worth $50,238,000 after acquiring an additional 557,517 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Intuitive Machines by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 2,735,161 shares of the company’s stock worth $44,399,000 after acquiring an additional 61,084 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Intuitive Machines by 18.4% in the third quarter. Bank of America Corp DE now owns 2,677,305 shares of the company’s stock worth $28,165,000 after acquiring an additional 415,359 shares in the last quarter. Institutional investors and hedge funds own 72.21% of the company’s stock.

About Intuitive Machines

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.