Canaccord Genuity Group Lowers Intuitive Machines (NASDAQ:LUNR) Price Target to $21.00

Intuitive Machines (NASDAQ:LUNR) had its price objective cut by Canaccord Genuity Group from $22.00 to $21.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on LUNR. Roth Mkm reduced their price objective on shares of Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 11th. Benchmark reiterated a “buy” rating and issued a $16.00 price target on shares of Intuitive Machines in a research report on Tuesday. Deutsche Bank Aktiengesellschaft assumed coverage on Intuitive Machines in a report on Tuesday, February 25th. They set a “hold” rating and a $18.00 price objective on the stock. Bank of America assumed coverage on Intuitive Machines in a report on Wednesday, February 5th. They set an “underperform” rating and a $16.00 target price for the company. Finally, Roth Capital set a $20.00 price target on shares of Intuitive Machines in a report on Friday, March 7th. 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 stock. Based on data from MarketBeat.com, Intuitive Machines has a consensus rating of “Moderate Buy” and a consensus price target of $16.00.

Intuitive Machines Stock Down 0.2 %

LUNR opened at $9.20 on Tuesday. The firm has a 50-day moving average price of $15.91 and a 200-day moving average price of $12.96. Intuitive Machines has a twelve month low of $3.15 and a twelve month high of $24.95. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -3.13 and a beta of 1.01.

Insider Buying and Selling

In related news, insider Steven Vontur sold 9,266 shares of the company’s stock in a transaction on Friday, January 31st. The shares were 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 directly owns 98,656 shares in the company, valued at approximately $2,219,760. The trade was a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.35, for a total value of $6,935,804.55. Following the sale, the director now owns 3,494,768 shares in the company, valued at $64,128,992.80. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 392,713 shares of company stock worth $7,250,066. Insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

Several hedge funds and other institutional investors have recently bought and sold shares of the company. PharVision Advisers LLC purchased a new position in shares of Intuitive Machines during the fourth quarter worth approximately $185,000. Voloridge Investment Management LLC bought a new position in shares of Intuitive Machines during the 4th quarter valued at $3,768,000. Soviero Asset Management LP raised its position in Intuitive Machines by 65.0% in the 4th quarter. Soviero Asset Management LP now owns 330,000 shares of the company’s stock worth $5,993,000 after purchasing an additional 130,000 shares during the period. Two Sigma Advisers LP bought a new stake in Intuitive Machines in the fourth quarter worth $4,971,000. Finally, Two Sigma Investments LP purchased a new stake in Intuitive Machines during the fourth quarter valued at about $33,255,000. Hedge funds and other institutional investors 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.