Intuitive Machines (NASDAQ:LUNR) Price Target Cut to $22.00 by Analysts at Canaccord Genuity Group

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

A number of other equities research analysts have also recently issued reports on LUNR. Bank of America started coverage on Intuitive Machines in a research report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 target price for the company. Cantor Fitzgerald raised their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Benchmark lifted their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Intuitive Machines in a report on Tuesday, February 25th. They set a “hold” rating and a $18.00 price target for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.57.

Intuitive Machines Price Performance

NASDAQ LUNR opened at $8.77 on Friday. The firm has a market cap of $1.23 billion, a P/E ratio of -2.98 and a beta of 1.01. The stock’s 50-day moving average is $18.67 and its two-hundred day moving average is $12.66. Intuitive Machines has a fifty-two week low of $3.15 and a fifty-two week high of $24.95.

Insider Activity at Intuitive Machines

In other 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 transaction of $6,935,804.55. Following the sale, the director now directly owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Steven Vontur sold 4,528 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total value of $88,748.80. Following the completion of the transaction, the insider now directly owns 104,272 shares of the company’s stock, valued at approximately $2,043,731.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 393,659 shares of company stock worth $7,262,364. Company insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds have recently made changes to their positions in LUNR. FORA Capital LLC bought a new stake in Intuitive Machines in the third quarter valued at about $458,000. Geode Capital Management LLC boosted its holdings in Intuitive Machines by 31.2% during the third quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after purchasing an additional 222,136 shares in the last quarter. Van ECK Associates Corp acquired a new stake in Intuitive Machines during the fourth quarter valued at approximately $3,403,000. Entropy Technologies LP bought a new stake in shares of Intuitive Machines in the 4th quarter valued at approximately $895,000. Finally, Spire Wealth Management acquired a new position in shares of Intuitive Machines in the 4th quarter worth approximately $469,000. Institutional investors and hedge funds 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.