Intuitive Machines (NASDAQ:LUNR) Price Target Raised to $15.00

Intuitive Machines (NASDAQ:LUNR) had its target price hoisted by Cantor Fitzgerald from $10.00 to $15.00 in a report issued on Friday morning,Benzinga reports. Cantor Fitzgerald currently has an overweight rating on the stock.

Several other brokerages have also weighed in on LUNR. Roth Mkm reiterated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday, September 18th. B. Riley increased their price objective on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Benchmark reiterated a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a research report on Wednesday, September 18th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $13.10.

Intuitive Machines Stock Performance

NASDAQ:LUNR opened at $12.42 on Friday. Intuitive Machines has a one year low of $2.09 and a one year high of $14.90. The stock has a market cap of $1.60 billion, a PE ratio of -4.22 and a beta of 0.35. The stock has a 50 day moving average price of $8.02 and a 200 day moving average price of $5.71.

Insider Transactions at Intuitive Machines

In other news, CEO Stephen J. Altemus sold 138,568 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $11.10, for a total transaction of $1,538,104.80. Following the completion of the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at $10,111,200.90. This trade represents a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Steven Vontur sold 10,274 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $5.58, for a total value of $57,328.92. Following the transaction, the chief financial officer now owns 117,500 shares of the company’s stock, valued at approximately $655,650. This represents a 8.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,763,571 shares of company stock worth $38,671,383 over the last ninety days. Company insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of LUNR. Vanguard Group Inc. boosted its position in shares of Intuitive Machines by 250.0% during the first 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 period. Sanders Morris Harris LLC boosted its holdings in Intuitive Machines by 264.9% in the second 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 period. Bank of New York Mellon Corp purchased a new position in Intuitive Machines in the second quarter valued at $272,000. Rhumbline Advisers purchased a new position in Intuitive Machines in the second quarter valued at $119,000. Finally, Wedbush Securities Inc. purchased a new position in Intuitive Machines in the second quarter valued at $35,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

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.