Intuitive Machines (NASDAQ:LUNR) Price Target Raised to $12.50

Intuitive Machines (NASDAQ:LUNR) had its target price lifted by Canaccord Genuity Group from $11.00 to $12.50 in a report released on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other equities analysts have also recently commented on the stock. Roth Mkm reissued a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. 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. Benchmark raised their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research note on Friday. Finally, B. Riley raised their target price on shares of Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Intuitive Machines presently has an average rating of “Buy” and a consensus price target of $13.10.

Intuitive Machines Stock Down 6.0 %

Shares of NASDAQ:LUNR opened at $11.68 on Friday. The company has a market cap of $1.50 billion, a PE ratio of -3.97 and a beta of 0.35. The company’s 50-day moving average price is $8.02 and its 200 day moving average price is $5.72. Intuitive Machines has a fifty-two week low of $2.09 and a fifty-two week high of $14.90.

Insider Transactions at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 570,705 shares of Intuitive Machines stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $6.08, for a total value of $3,469,886.40. Following the transaction, the director now directly owns 3,551,606 shares of the company’s stock, valued at $21,593,764.48. This trade represents a 13.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Stephen J. Altemus sold 440,288 shares of Intuitive Machines stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $6.03, for a total transaction of $2,654,936.64. Following the completion of the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at approximately $5,492,841.57. This trade represents a 32.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,763,571 shares of company stock valued at $38,671,383 in the last quarter. Insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in LUNR. Wedbush Securities Inc. purchased a new position in shares of Intuitive Machines in the second quarter worth approximately $35,000. Sender Co & Partners Inc. purchased a new position in shares of Intuitive Machines in the second quarter worth approximately $56,000. Waldron Private Wealth LLC purchased a new position in shares of Intuitive Machines in the third quarter worth approximately $83,000. The Manufacturers Life Insurance Company purchased a new position in shares of Intuitive Machines in the third quarter worth approximately $85,000. Finally, SG Americas Securities LLC purchased a new position in shares of Intuitive Machines in the third quarter worth approximately $93,000. 72.21% of the stock is 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.