Intuitive Machines (NASDAQ:LUNR) Price Target Raised to $12.50 at Canaccord Genuity Group

Intuitive Machines (NASDAQ:LUNR) had its price target raised by Canaccord Genuity Group from $11.00 to $12.50 in a report released on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 0.64% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. B. Riley increased their price objective 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. Cantor Fitzgerald boosted their target price on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday. Roth Mkm reiterated a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. Finally, Benchmark raised their target price on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $13.10.

Intuitive Machines Stock Performance

LUNR stock opened at $12.42 on Friday. Intuitive Machines has a one year low of $2.09 and a one year high of $14.90. The firm’s 50 day moving average price is $8.02 and its 200-day moving average price is $5.71. The firm has a market cap of $1.60 billion, a PE ratio of -15.15 and a beta of 0.35.

Insider Transactions at Intuitive Machines

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 1,007,928 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $8.31, for a total value of $8,375,881.68. Following the sale, the director now directly owns 3,494,768 shares of the company’s stock, valued at approximately $29,041,522.08. This trade represents a 22.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Stephen J. Altemus sold 440,288 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $6.03, for a total transaction of $2,654,936.64. Following the completion of the sale, the chief executive officer now directly owns 910,919 shares in the company, valued at $5,492,841.57. This represents a 32.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,763,571 shares of company stock valued at $38,671,383 in the last ninety days. Corporate insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Intuitive Machines by 250.0% during the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after buying an additional 429,531 shares during the last quarter. Sanders Morris Harris LLC increased its stake in Intuitive Machines by 264.9% during the second quarter. Sanders Morris Harris LLC now owns 69,700 shares of the company’s stock worth $230,000 after acquiring an additional 50,600 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Intuitive Machines in the 2nd quarter worth about $272,000. Rhumbline Advisers acquired a new position in shares of Intuitive Machines in the 2nd quarter valued at about $119,000. Finally, Wedbush Securities Inc. purchased a new stake in shares of Intuitive Machines during the 2nd quarter worth about $35,000. 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.