Canaccord Genuity Group Cuts Intuitive Machines (NASDAQ:LUNR) Price Target to $15.50

Intuitive Machines (NASDAQ:LUNR) had its price objective cut by Canaccord Genuity Group from $18.50 to $15.50 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the company. UBS Group restated a “buy” rating on shares of Intuitive Machines in a report on Monday, August 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Intuitive Machines in a research note on Wednesday, October 8th. Craig Hallum started coverage on shares of Intuitive Machines in a research note on Tuesday, July 22nd. They issued a “buy” rating and a $17.00 price target for the company. Zacks Research upgraded shares of Intuitive Machines to a “strong sell” rating in a report on Monday, August 11th. Finally, Bank of America reduced their target price on Intuitive Machines from $10.50 to $8.50 and set an “underperform” rating for the company in a research note on Monday, August 25th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $15.40.

Intuitive Machines Price Performance

Shares of NASDAQ:LUNR opened at $9.59 on Friday. Intuitive Machines has a 1 year low of $6.14 and a 1 year high of $24.95. The business’s 50-day moving average is $10.71 and its 200-day moving average is $10.61. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -2.96 and a beta of 1.42.

Intuitive Machines (NASDAQ:LUNR) last released its earnings results on Thursday, August 7th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.05). The company had revenue of $50.31 million during the quarter, compared to analyst estimates of $69.19 million. Analysts anticipate that Intuitive Machines will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Intuitive Machines by 13.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,090,059 shares of the company’s stock worth $64,067,000 after acquiring an additional 717,256 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in Intuitive Machines during the 3rd quarter worth approximately $94,000. Oppenheimer & Co. Inc. bought a new stake in Intuitive Machines during the 3rd quarter worth approximately $116,000. Axim Planning & Wealth purchased a new stake in shares of Intuitive Machines in the third quarter worth approximately $113,000. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Intuitive Machines by 5.3% in the third quarter. SBI Securities Co. Ltd. now owns 38,115 shares of the company’s stock valued at $401,000 after purchasing an additional 1,911 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.