Intuitive Machines (NASDAQ:LUNR) Given New $12.50 Price Target at Canaccord Genuity Group

Intuitive Machines (NASDAQ:LUNR) had its price target hoisted by equities researchers at Canaccord Genuity Group from $11.00 to $12.50 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 23.76% from the stock’s current price.

LUNR has been the subject of several other research reports. Roth Mkm reaffirmed a “buy” rating and issued a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. B. Riley boosted their price target 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. Benchmark increased their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Cantor Fitzgerald raised their price target on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Intuitive Machines currently has an average rating of “Buy” and a consensus target price of $13.10.

Intuitive Machines Stock Down 1.3 %

Shares of NASDAQ:LUNR opened at $10.10 on Friday. The firm has a fifty day moving average of $7.77 and a two-hundred day moving average of $5.63. Intuitive Machines has a 12-month low of $2.09 and a 12-month high of $14.90. The firm has a market capitalization of $1.30 billion, a P/E ratio of -12.48 and a beta of 0.35.

Intuitive Machines (NASDAQ:LUNR) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $41.41 million for the quarter, compared to analyst estimates of $43.00 million. Equities research analysts expect that Intuitive Machines will post 0.47 earnings per share for the current fiscal year.

Insider Transactions at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 570,705 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $6.08, for a total transaction of $3,469,886.40. Following the completion of the transaction, the director now owns 3,551,606 shares in the company, valued at approximately $21,593,764.48. The trade was a 13.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven Vontur sold 10,274 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $5.58, for a total transaction of $57,328.92. Following the sale, the chief financial officer now owns 117,500 shares in the company, valued at approximately $655,650. The trade was a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,763,571 shares of company stock worth $38,671,383 in the last quarter. 73.68% of the stock is owned by company insiders.

Institutional Trading of Intuitive Machines

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wedbush Securities Inc. bought a new position in shares of Intuitive Machines in the 2nd quarter valued at about $35,000. Sender Co & Partners Inc. acquired a new stake in Intuitive Machines in the 2nd quarter valued at about $56,000. Waldron Private Wealth LLC bought a new position in Intuitive Machines during the third quarter worth about $83,000. The Manufacturers Life Insurance Company acquired a new position in Intuitive Machines during the third quarter worth approximately $85,000. Finally, SG Americas Securities LLC bought a new stake in Intuitive Machines in the third quarter valued at approximately $93,000. 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.