Canaccord Genuity Group Lowers Intuitive Machines (NASDAQ:LUNR) Price Target to $22.00

Intuitive Machines (NASDAQ:LUNR) had its price target trimmed by Canaccord Genuity Group from $26.00 to $22.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

LUNR has been the topic of a number of other research reports. Benchmark upped their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intuitive Machines in a research note on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price target on the stock. Cantor Fitzgerald upped their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Bank of America began coverage on shares of Intuitive Machines in a research note on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.57.

Intuitive Machines Price Performance

Shares of Intuitive Machines stock opened at $8.77 on Friday. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -2.98 and a beta of 1.01. The firm’s 50-day moving average is $18.67 and its 200 day moving average is $12.76. Intuitive Machines has a 1 year low of $3.15 and a 1 year high of $24.95.

Insiders Place Their Bets

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 3,494,768 shares of the company’s stock, valued at $64,128,992.80. This represents a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Steven Vontur sold 4,528 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the sale, the insider now directly owns 104,272 shares of the company’s stock, valued at $2,043,731.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 393,659 shares of company stock valued at $7,262,364. 73.68% of the stock is owned by insiders.

Institutional Investors Weigh In On Intuitive Machines

Several hedge funds and other institutional investors have recently made changes to their positions in LUNR. Creative Planning purchased a new stake in shares of Intuitive Machines during the 3rd quarter valued at about $105,000. LMR Partners LLP purchased a new stake in shares of Intuitive Machines during the 3rd quarter valued at about $110,000. Charles Schwab Investment Management Inc. increased its holdings in Intuitive Machines by 44.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock worth $836,000 after acquiring an additional 32,015 shares in the last quarter. Penserra Capital Management LLC increased its holdings in Intuitive Machines by 16.5% in the 3rd 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 in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in Intuitive Machines during the 3rd quarter worth approximately $85,000. 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.