Canaccord Genuity Group Boosts Intuitive Machines (NASDAQ:LUNR) Price Target to $26.00

Intuitive Machines (NASDAQ:LUNR) had its price objective upped by analysts at Canaccord Genuity Group from $17.50 to $26.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 38.37% from the company’s current price.

Several other equities analysts have also recently issued reports on LUNR. Benchmark upped their price objective on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. B. Riley increased their price objective on Intuitive Machines from $8.00 to $12.00 and gave the company 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 stock an “overweight” rating in a research report on Friday, November 15th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $15.80.

Intuitive Machines Stock Performance

NASDAQ:LUNR opened at $18.79 on Wednesday. The firm has a market cap of $2.64 billion, a P/E ratio of -6.39 and a beta of 0.90. Intuitive Machines has a fifty-two week low of $2.17 and a fifty-two week high of $22.32. The firm has a 50-day simple moving average of $13.98 and a two-hundred day simple moving average of $8.50.

Insider Transactions at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 74,248 shares of Intuitive Machines stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $8.03, for a total transaction of $596,211.44. Following the transaction, the director now directly owns 3,494,768 shares of the company’s stock, valued at $28,062,987.04. The trade was a 2.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Stephen J. Altemus sold 61,432 shares of Intuitive Machines stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $11.00, for a total transaction of $675,752.00. Following the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at $10,020,109. This represents a 6.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,954,713 shares of company stock worth $24,475,385 in the last quarter. Company insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently bought and sold shares of the business. FORA Capital LLC bought a new stake in Intuitive Machines during the 3rd quarter valued at approximately $458,000. Geode Capital Management LLC raised its position in shares of Intuitive Machines by 31.2% during the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after buying an additional 222,136 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Intuitive Machines in the second quarter worth $536,000. Stifel Financial Corp bought a new position in shares of Intuitive Machines during the third quarter worth $525,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in 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 acquiring an additional 32,015 shares during the last quarter. 72.21% of the stock is owned by 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.