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

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

Several other equities analysts have also weighed in on the company. Benchmark increased their price objective on Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. 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 research report on Thursday, September 19th. Roth Mkm reiterated a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, September 18th. Finally, Cantor Fitzgerald increased their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $15.80.

Intuitive Machines Stock Down 4.9 %

Shares of NASDAQ:LUNR opened at $17.87 on Wednesday. The business’s 50 day moving average is $14.18 and its 200 day moving average is $8.59. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of -6.08 and a beta of 0.90. Intuitive Machines has a 12-month low of $2.30 and a 12-month high of $22.32.

Insider Activity at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 400,000 shares of the stock in a transaction that occurred 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 represents a 52.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen J. Altemus sold 61,432 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 910,919 shares in the company, valued at approximately $10,020,109. The trade was a 6.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,954,713 shares of company stock worth $24,475,385 over the last quarter. Corporate insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in shares of Intuitive Machines by 31.2% in 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 in the last quarter. State Street Corp raised its stake in Intuitive Machines by 1.3% during the third quarter. State Street Corp now owns 576,051 shares of the company’s stock valued at $4,637,000 after buying an additional 7,538 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Intuitive Machines in the second quarter worth $536,000. Penserra Capital Management LLC grew its stake in shares of 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 last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings 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 acquiring an additional 32,015 shares in the last quarter. 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.