Bank of America Initiates Coverage on Intuitive Machines (NASDAQ:LUNR)

Bank of America started coverage on shares of Intuitive Machines (NASDAQ:LUNR) in a research note released on Wednesday, Marketbeat Ratings reports. The firm issued an underperform rating and a $16.00 price target on the stock.

Other equities analysts have also recently issued reports about the stock. Benchmark lifted their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a report on Friday, November 15th. Cantor Fitzgerald boosted their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Canaccord Genuity Group boosted their target price on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating and five have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $15.83.

Intuitive Machines Trading Down 5.1 %

LUNR stock opened at $18.40 on Wednesday. Intuitive Machines has a twelve month low of $3.15 and a twelve month high of $24.95. The company’s 50 day moving average is $17.53 and its two-hundred day moving average is $10.79. The stock has a market cap of $2.58 billion, a P/E ratio of -6.26 and a beta of 0.92.

Insider Activity

In related news, insider Steven Vontur sold 9,266 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $22.50, for a total value of $208,485.00. Following the completion of the transaction, the insider now owns 98,656 shares in the company, valued at $2,219,760. This trade represents a 8.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Stephen J. Altemus sold 61,432 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $11.00, for a total value of $675,752.00. Following the completion of the transaction, the chief executive officer now owns 910,919 shares of the company’s stock, valued at $10,020,109. This trade represents a 6.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,367,104 shares of company stock worth $19,912,186. 73.68% of the stock is currently owned by insiders.

Institutional Trading of Intuitive Machines

Institutional investors have recently modified their holdings of the company. Squarepoint Ops LLC acquired a new position in Intuitive Machines in the second quarter worth $536,000. SG Americas Securities LLC acquired a new position in shares of Intuitive Machines during the third quarter valued at $93,000. Creative Planning acquired a new position in shares of Intuitive Machines during the third quarter valued at $105,000. Waldron Private Wealth LLC acquired a new position in shares of Intuitive Machines during the third quarter valued at $83,000. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in shares of Intuitive Machines during the third quarter valued at $189,000. Institutional investors and hedge funds 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.