Bank of America Issues Positive Forecast for Intuitive Machines (NASDAQ:LUNR) Stock Price

Intuitive Machines (NASDAQ:LUNR) had its target price hoisted by investment analysts at Bank of America from $8.50 to $9.50 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “underperform” rating on the stock. Bank of America‘s target price would indicate a potential upside of 8.13% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Craig Hallum began coverage on Intuitive Machines in a research report on Tuesday, July 22nd. They set a “buy” rating and a $17.00 target price on the stock. Roth Capital reissued a “buy” rating on shares of Intuitive Machines in a research note on Tuesday, November 4th. Canaccord Genuity Group lowered their price objective on shares of Intuitive Machines from $18.50 to $15.50 and set a “buy” rating for the company in a research note on Friday, November 7th. Zacks Research raised shares of Intuitive Machines to a “strong sell” rating in a research note on Monday, August 11th. Finally, Stifel Nicolaus started coverage on shares of Intuitive Machines in a report on Monday, November 3rd. They issued a “buy” rating and a $18.00 price target for the company. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.50.

Intuitive Machines Stock Down 4.7%

LUNR traded down $0.43 during trading on Wednesday, reaching $8.79. 2,921,306 shares of the stock traded hands, compared to its average volume of 9,540,512. The stock’s 50-day moving average is $10.81 and its 200 day moving average is $10.65. Intuitive Machines has a 12 month low of $6.14 and a 12 month high of $24.95. The stock has a market capitalization of $1.57 billion, a PE ratio of -2.72 and a beta of 1.42.

Insiders Place Their Bets

In related news, Director Michael Blitzer purchased 141,080 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was acquired at an average price of $9.27 per share, for a total transaction of $1,307,811.60. Following the purchase, the director owned 1,831,248 shares of the company’s stock, valued at approximately $16,975,668.96. This trade represents a 8.35% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 39.75% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. increased its position in shares of Intuitive Machines by 27.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 140,208 shares of the company’s stock valued at $1,045,000 after acquiring an additional 30,447 shares during the last quarter. Swiss National Bank bought a new position in Intuitive Machines in the 1st quarter valued at $1,203,000. ARK Investment Management LLC grew its stake in Intuitive Machines by 56.1% in the 2nd quarter. ARK Investment Management LLC now owns 1,158,775 shares of the company’s stock valued at $12,596,000 after purchasing an additional 416,337 shares during the period. Jump Financial LLC purchased a new stake in shares of Intuitive Machines during the 1st quarter valued at $1,900,000. Finally, Arizona State Retirement System bought a new stake in shares of Intuitive Machines during the 1st quarter worth $178,000. 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.