Cantor Fitzgerald Has Lowered Expectations for Intuitive Machines (NASDAQ:LUNR) Stock Price

Intuitive Machines (NASDAQ:LUNR - Get Free Report) had its target price lowered by equities research analysts at Cantor Fitzgerald from $15.00 to $13.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective would indicate a potential upside of 61.09% from the stock's previous close. Cantor Fitzgerald also issued estimates for Intuitive Machines' FY2024 earnings at ($4.63) EPS and FY2025 earnings at ($0.32) EPS.

Several other research firms also recently commented on LUNR. Deutsche Bank Aktiengesellschaft initiated coverage on Intuitive Machines in a research report on Tuesday, February 25th. They issued a "hold" rating and a $18.00 target price for the company. Benchmark reiterated a "buy" rating and issued a $16.00 price objective on shares of Intuitive Machines in a report on Tuesday. Roth Mkm reduced their target price on shares of Intuitive Machines from $20.00 to $12.00 and set a "buy" rating on the stock in a report on Tuesday, March 11th. Bank of America initiated coverage on shares of Intuitive Machines in a research report on Wednesday, February 5th. They issued an "underperform" rating and a $16.00 price target for the company. Finally, Roth Capital set a $20.00 price target on shares of Intuitive Machines in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Intuitive Machines presently has a consensus rating of "Moderate Buy" and an average target price of $16.00.

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Intuitive Machines Stock Down 2.4 %

Shares of LUNR stock traded down $0.20 on Tuesday, reaching $8.07. The company had a trading volume of 7,242,922 shares, compared to its average volume of 11,795,965. The business's 50-day moving average is $15.28 and its 200 day moving average is $12.92. Intuitive Machines has a one year low of $3.15 and a one year high of $24.95. The stock has a market capitalization of $1.13 billion, a PE ratio of -2.74 and a beta of 1.01.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last issued its quarterly earnings data on Tuesday, March 25th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.12. The company had revenue of $54.66 million during the quarter, compared to the consensus estimate of $72.58 million. On average, sell-side analysts forecast that Intuitive Machines will post 0.73 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction 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 $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Vontur sold 9,266 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $22.50, for a total transaction of $208,485.00. Following the completion of the sale, the insider now owns 98,656 shares of the company's stock, valued at $2,219,760. The trade was a 8.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 391,767 shares of company stock valued at $7,233,038. Corporate insiders own 73.68% of the company's stock.

Hedge Funds Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently made changes to their positions in LUNR. Two Sigma Investments LP acquired a new position in Intuitive Machines during the 4th quarter worth approximately $33,255,000. D. E. Shaw & Co. Inc. grew its stake in Intuitive Machines by 3,991.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company's stock valued at $21,102,000 after acquiring an additional 1,133,581 shares during the period. Vanguard Group Inc. increased its holdings in shares of Intuitive Machines by 33.6% during the fourth quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company's stock valued at $73,503,000 after acquiring an additional 1,017,706 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of 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 purchasing an additional 609,118 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in shares of Intuitive Machines in the 4th quarter worth $9,133,000. 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.