Canaccord Genuity Group Has Lowered Expectations for Intuitive Machines (NASDAQ:LUNR) Stock Price

Intuitive Machines (NASDAQ:LUNR) had its price objective reduced by analysts at Canaccord Genuity Group from $26.00 to $22.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price target points to a potential upside of 95.38% from the company’s previous close.

Several other analysts have also recently issued reports on LUNR. Bank of America began coverage on Intuitive Machines in a report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 price objective on the stock. Benchmark lifted their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Cantor Fitzgerald boosted their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intuitive Machines in a report on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $15.57.

Intuitive Machines Stock Down 20.2 %

Shares of Intuitive Machines stock opened at $11.26 on Friday. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of -3.83 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 business has a 50-day moving average price of $18.86 and a 200-day moving average price of $12.63.

Insider Transactions at Intuitive Machines

In related news, insider Steven Vontur sold 4,528 shares of Intuitive Machines stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the completion of the sale, the insider now owns 104,272 shares in the company, valued at $2,043,731.20. This trade represents a 4.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the completion of the transaction, the director now owns 3,494,768 shares in the company, valued at $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 393,659 shares of company stock worth $7,262,364. 73.68% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Intuitive Machines

Several hedge funds have recently made changes to their positions in the company. Quarry LP bought a new stake in shares of Intuitive Machines in the fourth quarter valued at about $44,000. Jones Financial Companies Lllp raised its holdings in shares of Intuitive Machines by 751.3% in the 4th quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock valued at $70,000 after purchasing an additional 3,381 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Intuitive Machines by 201.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock worth $90,000 after purchasing an additional 3,300 shares during the period. Ancora Advisors LLC bought a new position in shares of Intuitive Machines during the fourth quarter valued at approximately $91,000. Finally, Victory Capital Management Inc. purchased a new position in Intuitive Machines during the fourth quarter valued at approximately $183,000. 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.