Intuitive Machines (NASDAQ:LUNR) Stock Price Target Lowered at KeyCorp

Intuitive Machines (NASDAQ:LUNR) had its price target reduced by investment analysts at KeyCorp from $38.00 to $30.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. KeyCorp‘s price objective would suggest a potential upside of 181.16% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. Zacks Research cut shares of Intuitive Machines from a “hold” rating to a “strong sell” rating in a research report on Monday, October 12th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Intuitive Machines in a research report on Monday, September 21st. Bank of America increased their price target on shares of Intuitive Machines from $11.00 to $13.00 and gave the stock an “underperform” rating in a research report on Monday, August 31st. Stifel Nicolaus raised shares of Intuitive Machines from a “hold” rating to a “buy” rating and decreased their price target for the company from $32.00 to $26.00 in a report on Friday, August 14th. Finally, Canaccord Genuity Group lowered their price target on shares of Intuitive Machines from $41.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, August 18th. Seven research analysts have rated the stock with a Buy rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.88.

Intuitive Machines Price Performance

Shares of NASDAQ:LUNR opened at $10.67 on Monday. The business’s fifty day moving average price is $13.86 and its two-hundred day moving average price is $19.70. Intuitive Machines has a fifty-two week low of $7.78 and a fifty-two week high of $46.75. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of -11.23 and a beta of 1.91.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $212.32 million. Research analysts expect that Intuitive Machines will post -0.60 EPS for the current fiscal year.

Insider Buying and Selling at Intuitive Machines

In other news, SVP Timothy Crain, II sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $13.98, for a total transaction of $1,398,000.00. Following the completion of the sale, the senior vice president owned 351,279 shares in the company, valued at $4,910,880.42. This trade represents a 22.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Steven Vontur sold 3,050 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $16.13, for a total transaction of $49,196.50. Following the sale, the insider owned 113,997 shares in the company, valued at $1,838,771.61. The trade was a 2.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 658,711 shares of company stock worth $10,402,436 in the last quarter. 54.10% of the stock is currently owned by company insiders.

Institutional Trading of Intuitive Machines

A number of hedge funds have recently modified their holdings of the business. Integrity Alliance LLC. bought a new stake in shares of Intuitive Machines in the third quarter worth approximately $156,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in Intuitive Machines by 9.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 640,283 shares of the company’s stock worth $9,118,000 after acquiring an additional 54,497 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Intuitive Machines in the 3rd quarter worth approximately $98,725,000. LJI Wealth Management LLC bought a new stake in shares of Intuitive Machines during the 3rd quarter valued at $199,000. Finally, Signaturefd LLC boosted its holdings in Intuitive Machines by 119.7% in the 3rd quarter. Signaturefd LLC now owns 2,390 shares of the company’s stock worth $34,000 after buying an additional 1,302 shares during the period. Institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

Intuitive Machines, Inc is a space exploration and infrastructure company headquartered in Houston, Texas. The company develops and operates spacecraft, lunar landers, and related systems designed to support missions to the Moon and other destinations. Its offerings include lunar payload delivery, spacecraft and satellite components, communications and navigation services, and data products for government and commercial customers.

Intuitive Machines is a major participant in NASA’s Commercial Lunar Payload Services program, under which it delivers scientific and technology payloads to the lunar surface.