Canaccord Genuity Group Issues Positive Forecast for Intuitive Machines (NASDAQ:LUNR) Stock Price

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

LUNR has been the subject of a number of other research reports. 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 note on Thursday, September 19th. Benchmark increased their price objective on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday. Roth Mkm reissued a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday, September 18th. Finally, Cantor Fitzgerald increased their price objective on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $13.10.

Intuitive Machines Price Performance

Shares of LUNR opened at $12.42 on Friday. The firm has a market cap of $1.60 billion, a P/E ratio of -4.22 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 stock has a 50 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, Director Kamal Seyed Ghaffarian sold 570,705 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $6.08, for a total value of $3,469,886.40. Following the completion of the sale, the director now owns 3,551,606 shares of the company’s stock, valued at $21,593,764.48. This trade represents a 13.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Timothy Price Crain II sold 400,000 shares of the stock in a transaction 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 owns 362,810 shares of the company’s stock, 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. Insiders sold 4,763,571 shares of company stock valued at $38,671,383 over the last quarter. 73.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Intuitive Machines by 31.2% in the third 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 in the last quarter. Vanguard Group Inc. raised its holdings in Intuitive Machines by 250.0% in the first quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after purchasing an additional 429,531 shares in the last quarter. State Street Corp raised its holdings in Intuitive Machines by 1.3% in the third quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after purchasing an additional 7,538 shares in the last quarter. Squarepoint Ops LLC bought a new position in Intuitive Machines in the second quarter worth $536,000. Finally, Penserra Capital Management LLC increased its holdings in shares of Intuitive Machines by 16.5% during the third quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock valued at $1,190,000 after acquiring an additional 20,916 shares in the last quarter. Institutional investors own 72.21% of the company’s stock.

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.