Intuitive Machines (NASDAQ:LUNR) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Intuitive Machines (NASDAQ:LUNR) had its price objective boosted by stock analysts at Canaccord Genuity Group from $17.50 to $26.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 30.85% from the company’s previous close.

Several other research analysts have also weighed in on LUNR. Benchmark lifted their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Roth Mkm reissued a “buy” rating and set a $10.00 price target on shares of Intuitive Machines in a research report on Wednesday, September 18th. B. Riley raised their price objective on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Finally, Cantor Fitzgerald boosted their target price on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, Intuitive Machines has an average rating of “Buy” and a consensus price target of $15.80.

Intuitive Machines Trading Down 8.7 %

Shares of LUNR opened at $19.87 on Wednesday. The stock has a market cap of $2.79 billion, a P/E ratio of -6.76 and a beta of 0.90. Intuitive Machines has a 1 year low of $2.17 and a 1 year high of $22.32. The stock’s 50-day moving average price is $13.54 and its two-hundred day moving average price is $8.35.

Insider Activity at Intuitive Machines

In other Intuitive Machines news, SVP Timothy Price Crain II sold 400,000 shares of Intuitive Machines stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total value of $4,840,000.00. Following the completion of the sale, the senior vice president now owns 362,810 shares in the company, valued at $4,390,001. The trade was a 52.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 344,893 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $8.02, for a total value of $2,766,041.86. Following the sale, the director now directly owns 3,494,768 shares in the company, valued at $28,028,039.36. This represents a 8.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,954,713 shares of company stock worth $24,475,385. Insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds and other institutional investors have recently made changes to their positions in LUNR. State Street Corp grew its holdings in shares of Intuitive Machines by 1.3% during the 3rd quarter. State Street Corp now owns 576,051 shares of the company’s stock valued at $4,637,000 after purchasing an additional 7,538 shares during the last quarter. Waldron Private Wealth LLC bought a new stake in shares of Intuitive Machines during the third quarter worth $83,000. Wedbush Securities Inc. acquired a new position in shares of Intuitive Machines during the second quarter worth $35,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Intuitive Machines during the 3rd quarter valued at $85,000. Finally, SG Americas Securities LLC bought a new stake in Intuitive Machines during the 3rd quarter worth $93,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.