Intuitive Machines (NASDAQ:LUNR) Price Target Raised to $26.00

Intuitive Machines (NASDAQ:LUNR) had its target price raised by equities research analysts at Canaccord Genuity Group from $17.50 to $26.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 30.85% from the stock’s previous close.

Several other research firms have also issued reports on LUNR. B. Riley raised their price target on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Benchmark boosted their price target on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Cantor Fitzgerald raised their price objective on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Roth Mkm restated a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Intuitive Machines currently has an average rating of “Buy” and an average price target of $15.80.

Intuitive Machines Stock Performance

NASDAQ LUNR opened at $19.87 on Wednesday. The stock has a 50-day simple moving average of $13.54 and a 200 day simple moving average of $8.35. The stock has a market capitalization of $2.79 billion, a PE ratio of -6.76 and a beta of 0.90. Intuitive Machines has a twelve month low of $2.17 and a twelve month high of $22.32.

Insider Activity

In other Intuitive Machines news, CEO Stephen J. Altemus sold 61,432 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $11.00, for a total transaction of $675,752.00. Following the sale, the chief executive officer now owns 910,919 shares of the company’s stock, valued at $10,020,109. This represents a 6.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy Price Crain II sold 400,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total transaction of $4,840,000.00. Following the completion of the transaction, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at approximately $4,390,001. This represents a 52.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,954,713 shares of company stock worth $24,475,385. Company insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

Hedge funds and other institutional investors have recently modified their holdings of the stock. FORA Capital LLC bought a new position in Intuitive Machines in the 3rd quarter valued at $458,000. Geode Capital Management LLC raised its holdings in Intuitive Machines by 31.2% during the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after purchasing an additional 222,136 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Intuitive Machines during the 2nd quarter worth about $536,000. Stifel Financial Corp acquired a new position in Intuitive Machines during the 3rd quarter valued at about $525,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Intuitive Machines by 44.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock valued at $836,000 after purchasing an additional 32,015 shares during the last quarter. Institutional investors and hedge funds 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.