Cantor Fitzgerald Lowers Intuitive Machines (NASDAQ:LUNR) Price Target to $13.00

Intuitive Machines (NASDAQ:LUNR) had its price target reduced by research analysts at Cantor Fitzgerald from $15.00 to $13.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 43.33% from the company’s current price.

A number of other brokerages have also recently commented on LUNR. Canaccord Genuity Group dropped their target price on shares of Intuitive Machines from $22.00 to $21.00 and set a “buy” rating on the stock in a report on Tuesday. Roth Capital set a $20.00 price objective on shares of Intuitive Machines in a research note on Friday, March 7th. Bank of America started coverage on Intuitive Machines in a research report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price target on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Intuitive Machines in a research report on Tuesday, February 25th. They set a “hold” rating and a $18.00 price objective for the company. Finally, Benchmark reissued a “buy” rating and set a $16.00 price objective on shares of Intuitive Machines in a research report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Intuitive Machines Price Performance

NASDAQ:LUNR traded down $0.15 during mid-day trading on Tuesday, reaching $9.07. 5,757,529 shares of the company’s stock traded hands, compared to its average volume of 15,249,328. The company has a 50 day moving average price of $16.06 and a 200-day moving average price of $12.93. Intuitive Machines has a 12-month low of $3.15 and a 12-month high of $24.95. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of -3.08 and a beta of 1.01.

Insider Buying and Selling

In related news, insider Steven Vontur sold 9,266 shares of Intuitive Machines stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $22.50, for a total transaction of $208,485.00. Following the sale, the insider now owns 98,656 shares of the company’s stock, valued at approximately $2,219,760. This trade represents a 8.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’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 value of $6,935,804.55. Following the completion of the transaction, the director now owns 3,494,768 shares of the company’s stock, valued at $64,128,992.80. The trade was a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 392,713 shares of company stock valued at $7,250,066. 73.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in 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 purchasing an additional 32,015 shares during the period. Penserra Capital Management LLC boosted its stake in shares of Intuitive Machines by 16.5% during the third quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock valued at $1,190,000 after purchasing an additional 20,916 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of Intuitive Machines in the 3rd quarter valued at $85,000. MetLife Investment Management LLC bought a new position in Intuitive Machines in the third quarter worth about $138,000. Finally, FORA Capital LLC bought a new position in shares of Intuitive Machines during the 3rd quarter worth approximately $458,000. 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.