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

Intuitive Machines (NASDAQ:LUNR) had its price objective upped by equities research analysts at Canaccord Genuity Group from $11.00 to $12.50 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 0.64% from the company’s current price.

A number of other brokerages have also recently commented on LUNR. Roth Mkm reaffirmed a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a report on Wednesday, September 18th. Benchmark upped their price target on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday. Cantor Fitzgerald raised their price objective on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday. Finally, B. Riley raised their target price on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $13.10.

Intuitive Machines Trading Up 21.4 %

Shares of LUNR opened at $12.42 on Friday. The firm has a market cap of $1.60 billion, a PE ratio of -15.15 and a beta of 0.35. Intuitive Machines has a 1-year low of $2.09 and a 1-year high of $14.90. The firm has a fifty day simple moving average of $8.02 and a two-hundred day simple moving average of $5.71.

Insider Buying and Selling

In related news, CEO Stephen J. Altemus sold 138,568 shares of Intuitive Machines stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $11.10, for a total transaction of $1,538,104.80. Following the completion of the sale, the chief executive officer now owns 910,919 shares in the company, valued at $10,111,200.90. This trade represents a 13.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Timothy Price Crain II sold 400,000 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total value of $4,840,000.00. Following the completion of the transaction, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $4,390,001. This trade represents a 52.44 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,763,571 shares of company stock valued at $38,671,383. Company insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of large investors have recently bought and sold shares of LUNR. Vanguard Group Inc. boosted its stake in Intuitive Machines by 250.0% in the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock valued at $3,758,000 after acquiring an additional 429,531 shares in the last quarter. Sanders Morris Harris LLC boosted its stake in shares of Intuitive Machines by 264.9% during the 2nd 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 in the last quarter. Bank of New York Mellon Corp acquired a new stake in Intuitive Machines in the second quarter valued at approximately $272,000. Rhumbline Advisers acquired a new stake in Intuitive Machines in the 2nd quarter valued at $119,000. Finally, Wedbush Securities Inc. purchased a new stake in shares of Intuitive Machines during the second quarter worth about $35,000. Institutional investors 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.