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

Intuitive Machines (NASDAQ:LUNR) had its target price upped by Canaccord Genuity Group from $11.00 to $12.50 in a research note released on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on LUNR. Benchmark boosted their price target on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday. Roth Mkm reaffirmed a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Cantor Fitzgerald upped their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday. Finally, B. Riley raised their target price on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Intuitive Machines has a consensus rating of “Buy” and a consensus price target of $13.10.

Intuitive Machines Stock Up 21.4 %

Shares of NASDAQ:LUNR traded up $2.19 during midday trading on Friday, hitting $12.42. The stock had a trading volume of 37,661,389 shares, compared to its average volume of 9,480,033. The business’s 50-day simple moving average is $8.02 and its 200-day simple moving average is $5.71. Intuitive Machines has a 12 month low of $2.09 and a 12 month high of $14.90. The company has a market cap of $1.60 billion, a P/E ratio of -15.15 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 for the quarter, topping the consensus estimate 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. As a group, equities analysts predict that Intuitive Machines will post 0.47 earnings per share for the current year.

Insider Activity

In other news, CFO Steven Vontur sold 10,274 shares of Intuitive Machines stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $5.58, for a total value of $57,328.92. Following the completion of the sale, the chief financial officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Timothy Price Crain II sold 197,637 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $6.05, for a total value of $1,195,703.85. Following the sale, the senior vice president now owns 362,810 shares of the company’s stock, valued at approximately $2,195,000.50. The trade was a 35.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,763,571 shares of company stock valued at $38,671,383. 73.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LUNR. Vanguard Group Inc. lifted its position in shares of Intuitive Machines by 250.0% during the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after buying an additional 429,531 shares during the last quarter. Sanders Morris Harris LLC grew its holdings in shares of Intuitive Machines by 264.9% during the 2nd quarter. Sanders Morris Harris LLC now owns 69,700 shares of the company’s stock valued at $230,000 after purchasing an additional 50,600 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Intuitive Machines during the 2nd quarter worth approximately $272,000. Rhumbline Advisers bought a new position in Intuitive Machines in the 2nd quarter valued at approximately $119,000. Finally, Wedbush Securities Inc. acquired a new stake in Intuitive Machines in the second quarter valued at approximately $35,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.