Intuitive Machines’ (LUNR) “Buy” Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of Intuitive Machines (NASDAQ:LUNR) in a report published on Tuesday morning,Benzinga reports. They currently have a $16.00 price objective on the stock.

A number of other brokerages also recently commented on LUNR. Roth Capital set a $20.00 target price on shares of Intuitive Machines in a report on Friday, March 7th. Canaccord Genuity Group reduced their price objective on shares of Intuitive Machines from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Friday, March 7th. Bank of America started coverage on shares of Intuitive Machines in a research note on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 target price for the company. Roth Mkm reduced their price target on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 11th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Intuitive Machines in a research report on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $16.00.

Intuitive Machines Stock Down 5.9 %

Shares of LUNR stock opened at $8.27 on Tuesday. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of -2.81 and a beta of 1.01. Intuitive Machines has a 52-week low of $3.15 and a 52-week high of $24.95. The company’s 50 day moving average is $15.49 and its 200 day moving average is $12.90.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.12. The company had revenue of $54.66 million during the quarter, compared to analysts’ expectations of $72.58 million. Analysts anticipate that Intuitive Machines will post 0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Steven Vontur sold 9,266 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $22.50, for a total transaction of $208,485.00. Following the sale, the insider now directly owns 98,656 shares of the company’s stock, valued at $2,219,760. This trade represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the transaction, the director now directly owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. This trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 391,767 shares of company stock valued at $7,233,038. 73.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Two Sigma Investments LP acquired a new position in shares of Intuitive Machines during the 4th quarter worth about $33,255,000. D. E. Shaw & Co. Inc. raised its position in shares of Intuitive Machines by 3,991.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company’s stock valued at $21,102,000 after buying an additional 1,133,581 shares during the period. Vanguard Group Inc. lifted its stake in shares of Intuitive Machines by 33.6% in the 4th quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company’s stock valued at $73,503,000 after purchasing an additional 1,017,706 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Intuitive Machines by 99.6% during the fourth quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company’s stock worth $22,170,000 after buying an additional 609,118 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in shares of Intuitive Machines during the 4th quarter worth approximately $9,133,000. Institutional investors and hedge funds own 72.21% of the company’s stock.

About Intuitive Machines

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.