Canaccord Genuity Group Forecasts Strong Price Appreciation for Intuitive Machines (NASDAQ:LUNR) Stock

Intuitive Machines (NASDAQ:LUNR) had its price target boosted by Canaccord Genuity Group from $17.50 to $26.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

LUNR has been the subject of a number of other research reports. Benchmark upped their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Cantor Fitzgerald increased their target price on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, B. Riley raised their target price on 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, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $15.80.

Intuitive Machines Trading Down 5.4 %

Shares of LUNR opened at $18.79 on Wednesday. The firm has a market cap of $2.64 billion, a PE ratio of -6.39 and a beta of 0.90. Intuitive Machines has a 12-month low of $2.17 and a 12-month high of $22.32. The company’s 50 day simple moving average is $13.76 and its 200-day simple moving average is $8.42.

Insider Activity at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the sale, the director now owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. This trade represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephen J. Altemus sold 61,432 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $11.00, for a total value of $675,752.00. Following the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at approximately $10,020,109. This represents a 6.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,954,713 shares of company stock valued at $24,475,385. Insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. FORA Capital LLC acquired a new stake in shares of Intuitive Machines in the third quarter worth $458,000. Geode Capital Management LLC boosted its position in Intuitive Machines by 31.2% during the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock worth $7,514,000 after purchasing an additional 222,136 shares during the period. Squarepoint Ops LLC acquired a new stake in Intuitive Machines in the 2nd quarter valued at $536,000. Stifel Financial Corp purchased a new position in Intuitive Machines in the third quarter valued at about $525,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Intuitive Machines by 44.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock worth $836,000 after purchasing an additional 32,015 shares in the last quarter. Hedge funds and other 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.