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

Intuitive Machines (NASDAQ:LUNR) had its price target decreased by Cantor Fitzgerald from $15.00 to $13.00 in a report published on Tuesday,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock. Cantor Fitzgerald also issued estimates for Intuitive Machines’ FY2024 earnings at ($4.63) EPS and FY2025 earnings at ($0.32) EPS.

LUNR has been the subject of several other research reports. Canaccord Genuity Group reduced their price objective on shares of Intuitive Machines from $22.00 to $21.00 and set a “buy” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on Intuitive Machines in a research note on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price objective on the stock. Roth Mkm decreased their price objective on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 11th. Benchmark reaffirmed a “buy” rating and issued a $16.00 target price on shares of Intuitive Machines in a research note on Tuesday. Finally, 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 price objective for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Intuitive Machines Stock Down 5.9 %

LUNR opened at $8.27 on Tuesday. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of -2.81 and a beta of 1.01. Intuitive Machines has a twelve month low of $3.15 and a twelve month high of $24.95. The company has a 50-day simple moving average of $15.49 and a 200 day simple moving average of $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, topping the consensus estimate of ($0.08) by $0.12. The company had revenue of $54.66 million for the quarter, compared to analyst estimates of $72.58 million. Sell-side analysts anticipate that Intuitive Machines will post 0.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Intuitive Machines news, insider Steven Vontur sold 4,528 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total value of $88,748.80. Following the completion of the transaction, the insider now owns 104,272 shares of the company’s stock, valued at approximately $2,043,731.20. The trade was a 4.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s 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 $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 391,767 shares of company stock valued at $7,233,038 over the last quarter. 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 modified their holdings of the company. PharVision Advisers LLC bought a new position in Intuitive Machines in the fourth quarter worth approximately $185,000. Voloridge Investment Management LLC bought a new stake in shares of Intuitive Machines during the fourth quarter valued at approximately $3,768,000. Soviero Asset Management LP lifted its holdings in shares of Intuitive Machines by 65.0% in the fourth quarter. Soviero Asset Management LP now owns 330,000 shares of the company’s stock worth $5,993,000 after buying an additional 130,000 shares in the last quarter. Two Sigma Advisers LP bought a new position in shares of Intuitive Machines during the fourth quarter worth $4,971,000. Finally, Two Sigma Investments LP purchased a new position in Intuitive Machines during the fourth quarter valued at $33,255,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

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.