Intuitive Machines, Inc. (NASDAQ:LUNR – Get Free Report)’s share price was up 3.3% during trading on Tuesday . The stock traded as high as $16.26 and last traded at $16.24. Approximately 8,295,328 shares traded hands during trading, a decline of 32% from the average session volume of 12,179,293 shares. The stock had previously closed at $15.72.
Analyst Ratings Changes
Several research analysts have recently commented on LUNR shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Intuitive Machines in a report on Friday, July 17th. Canaccord Genuity Group dropped their price target on Intuitive Machines from $41.00 to $39.00 and set a “buy” rating for the company in a research note on Tuesday, August 18th. Stifel Nicolaus upgraded Intuitive Machines from a “hold” rating to a “buy” rating and dropped their target price for the stock from $32.00 to $26.00 in a research report on Friday, August 14th. Bank of America upped their target price on Intuitive Machines from $11.00 to $13.00 and gave the stock an “underperform” rating in a research note on Monday, August 31st. Finally, Zacks Research upgraded shares of Intuitive Machines from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Seven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $30.50.
Get Our Latest Analysis on LUNR
Intuitive Machines Stock Down 0.6%
Intuitive Machines (NASDAQ:LUNR – Get Free Report) last announced 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 during the quarter, compared to analysts’ expectations of $212.32 million. As a group, research analysts predict that Intuitive Machines, Inc. will post -0.6 earnings per share for the current year.
Insider Activity at Intuitive Machines
In other news, Director Kamal Ghaffarian sold 267,448 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $16.17, for a total value of $4,324,634.16. Following the completion of the transaction, the director owned 3,494,768 shares in the company, valued at $56,510,398.56. This trade represents a 7.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder International L.P. Advent sold 11,495,514 shares of the company’s stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $12.84, for a total value of $147,602,399.76. Following the completion of the sale, the insider directly owned 11,495,514 shares in the company, valued at approximately $147,602,399.76. The trade was a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,343,437 shares of company stock worth $161,528,436 over the last ninety days. Corporate insiders own 54.10% 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 the business. Tema ETFs LLC boosted its position in shares of Intuitive Machines by 139,768.2% in the 2nd quarter. Tema ETFs LLC now owns 3,105,074 shares of the company’s stock worth $66,418,000 after purchasing an additional 3,102,854 shares in the last quarter. Tidal Investments LLC bought a new position in Intuitive Machines during the 2nd quarter valued at approximately $64,452,000. Renaissance Technologies LLC bought a new stake in Intuitive Machines in the first quarter worth $35,895,000. Bank of America Corp DE increased its holdings in shares of Intuitive Machines by 188.9% during the first quarter. Bank of America Corp DE now owns 1,882,973 shares of the company’s stock valued at $34,948,000 after acquiring an additional 1,231,188 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Intuitive Machines by 202.1% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 461,564 shares of the company’s stock worth $8,567,000 after purchasing an additional 308,755 shares in the last quarter. 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 delivers lunar missions, spacecraft, and related services for government and commercial customers, with a focus on supporting a sustainable presence on the Moon.
Its activities include lunar payload delivery, spacecraft and lander development, lunar communications and navigation services, and the collection and transmission of data from the lunar surface. Intuitive Machines’ Nova-C lunar lander is designed to transport scientific instruments, technology demonstrations, and other payloads to the Moon.
Founded in 2013 by Stephen Altemus, who serves as president and chief executive officer, Intuitive Machines has supported NASA’s Commercial Lunar Payload Services program.
Featured Articles
- Five stocks we like better than Intuitive Machines
- 3 Energy ETFs Built for Oil’s New $100-Plus Reality
- Can Marvell Keep Up in the Custom AI Chip Race?
- DraftKings Falls 7.6%: Is Kalshi’s NFL Lead Really That Big?
- Gaming Your Portfolio: Should You Add Take-Two Ahead of GTA 6’s November Launch?
Receive News & Ratings for Intuitive Machines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Intuitive Machines and related companies with MarketBeat.com's FREE daily email newsletter.
