Canaccord Genuity Group Lowers Intuitive Machines (NASDAQ:LUNR) Price Target to $21.00

Intuitive Machines (NASDAQ:LUNR) had its price objective decreased by analysts at Canaccord Genuity Group from $22.00 to $21.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 131.53% from the stock’s previous close.

A number of other research firms have also recently commented on LUNR. Benchmark reissued a “buy” rating and set a $16.00 price target on shares of Intuitive Machines in a report on Tuesday. Bank of America assumed coverage on shares of Intuitive Machines in a report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 target price for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intuitive Machines in a report on Tuesday, February 25th. They set a “hold” rating and a $18.00 price target on the stock. Roth Mkm dropped their price target on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Finally, Roth Capital set a $20.00 price objective on Intuitive Machines in a research report on Friday, March 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Intuitive Machines Stock Performance

Shares of NASDAQ LUNR traded down $0.15 during mid-day trading on Tuesday, reaching $9.07. The company had a trading volume of 5,757,529 shares, compared to its average volume of 15,249,328. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -3.08 and a beta of 1.01. The business’s 50-day simple moving average is $16.06 and its 200 day simple moving average is $12.93. Intuitive Machines has a one year low of $3.15 and a one year high of $24.95.

Insider Transactions at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the sale, the director now owns 3,494,768 shares in the company, valued at $64,128,992.80. The trade was a 9.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Steven Vontur sold 4,528 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the transaction, the insider now owns 104,272 shares in the company, valued at $2,043,731.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 392,713 shares of company stock valued at $7,250,066. 73.68% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently bought and sold shares of LUNR. Charles Schwab Investment Management Inc. increased 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 valued at $836,000 after buying an additional 32,015 shares during the period. Penserra Capital Management LLC lifted its stake in Intuitive Machines by 16.5% in the third quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock worth $1,190,000 after acquiring an additional 20,916 shares during the period. The Manufacturers Life Insurance Company bought a new stake in Intuitive Machines in the third quarter valued at $85,000. MetLife Investment Management LLC purchased a new position in Intuitive Machines during the 3rd quarter valued at $138,000. Finally, FORA Capital LLC bought a new position in Intuitive Machines in the 3rd quarter worth $458,000. Hedge funds and other 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.