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

Intuitive Machines (NASDAQ:LUNR) had its price objective raised by Canaccord Genuity Group from $11.00 to $12.50 in a research note published on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

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

Intuitive Machines Stock Up 21.4 %

NASDAQ LUNR traded up $2.19 on Friday, hitting $12.42. The company’s stock had a trading volume of 37,661,389 shares, compared to its average volume of 9,480,033. The firm has a market cap of $1.60 billion, a PE ratio of -15.15 and a beta of 0.35. The company’s 50-day moving average is $8.02 and its 200 day moving average is $5.71. Intuitive Machines has a 1-year low of $2.09 and a 1-year high of $14.90.

Intuitive Machines (NASDAQ:LUNR) last announced its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.09. The company had revenue of $41.41 million for the quarter, compared to the consensus estimate of $43.00 million. On average, equities analysts expect that Intuitive Machines will post 0.47 EPS for the current year.

Insider Activity

In related news, Director Kamal Seyed Ghaffarian sold 1,007,928 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $8.31, for a total transaction of $8,375,881.68. Following the transaction, the director now directly owns 3,494,768 shares of the company’s stock, valued at approximately $29,041,522.08. This represents a 22.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Steven Vontur sold 10,274 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $5.58, for a total value of $57,328.92. Following the completion of the sale, the chief financial officer now directly owns 117,500 shares of the company’s stock, valued at $655,650. This trade represents a 8.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,763,571 shares of company stock worth $38,671,383 in the last quarter. 73.68% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Wedbush Securities Inc. bought a new position in Intuitive Machines in the 2nd quarter valued at about $35,000. Sender Co & Partners Inc. bought a new position in shares of Intuitive Machines in the second quarter valued at approximately $56,000. Waldron Private Wealth LLC purchased a new position in shares of Intuitive Machines during the third quarter valued at approximately $83,000. The Manufacturers Life Insurance Company bought a new stake in Intuitive Machines during the third quarter worth $85,000. Finally, SG Americas Securities LLC purchased a new stake in Intuitive Machines in the 3rd quarter valued at $93,000. 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.