Canaccord Genuity Group Issues Pessimistic Forecast for Intuitive Machines (NASDAQ:LUNR) Stock Price

Intuitive Machines (NASDAQ:LUNR) had its price target cut by stock analysts at Canaccord Genuity Group from $22.00 to $21.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 138.91% from the company’s current price.

LUNR has been the topic of several other reports. Benchmark restated a “buy” rating and issued a $16.00 price objective on shares of Intuitive Machines in a report on Tuesday. Roth Capital set a $20.00 price target on shares of Intuitive Machines in a research note on Friday, March 7th. Bank of America began coverage on shares of Intuitive Machines in a research report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price target on the stock. Roth Mkm lowered their target price on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intuitive Machines in a report on Tuesday, February 25th. They set a “hold” rating and a $18.00 price target for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intuitive Machines presently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Intuitive Machines Trading Down 4.5 %

Shares of LUNR stock opened at $8.79 on Tuesday. Intuitive Machines has a twelve month low of $3.15 and a twelve month high of $24.95. The company’s 50-day moving average price is $15.70 and its 200-day moving average price is $12.93. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -2.99 and a beta of 1.01.

Intuitive Machines (NASDAQ:LUNR) last posted its earnings results on Tuesday, March 25th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.12. The firm had revenue of $54.66 million during the quarter, compared to analyst estimates of $72.58 million. As a group, equities research analysts predict that Intuitive Machines will post 0.73 EPS for the current year.

Insider Activity at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction on Monday, December 30th. The shares were sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Steven Vontur sold 4,528 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the completion of the transaction, the insider now owns 104,272 shares of the company’s stock, valued at $2,043,731.20. This represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 391,767 shares of company stock valued at $7,233,038 over the last three months. 73.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Intuitive Machines during the fourth quarter worth about $44,000. Jones Financial Companies Lllp boosted its position in Intuitive Machines by 751.3% during the fourth quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock worth $70,000 after purchasing an additional 3,381 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Intuitive Machines in the 3rd quarter worth about $85,000. Steward Partners Investment Advisory LLC grew its position in shares of Intuitive Machines by 201.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock valued at $90,000 after purchasing an additional 3,300 shares during the last quarter. Finally, Ancora Advisors LLC purchased a new position in Intuitive Machines during the fourth quarter worth $91,000. Hedge funds and other institutional investors 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.