Benchmark Issues Positive Forecast for Intuitive Machines (NASDAQ:LUNR) Stock Price

Intuitive Machines (NASDAQ:LUNR) had its price objective boosted by Benchmark from $10.00 to $16.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

LUNR has been the topic of a number of other reports. B. Riley upped their target price on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Cantor Fitzgerald increased their price objective on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Roth Mkm reiterated a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Intuitive Machines presently has a consensus rating of “Buy” and a consensus target price of $13.10.

Intuitive Machines Stock Performance

NASDAQ:LUNR traded up $2.19 during midday trading on Friday, reaching $12.42. 37,661,389 shares of the stock traded hands, compared to its average volume of 9,480,033. The stock has a market capitalization of $1.60 billion, a P/E ratio of -15.15 and a beta of 0.35. The company has a fifty day moving average of $8.02 and a 200 day moving average of $5.71. Intuitive Machines has a 12 month low of $2.09 and a 12 month high of $14.90.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $41.41 million during the quarter, compared to analysts’ expectations of $43.00 million. On average, analysts predict that Intuitive Machines will post 0.47 EPS for the current fiscal year.

Insider Transactions at Intuitive Machines

In related news, CFO Steven Vontur sold 10,274 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $5.58, for a total value of $57,328.92. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Timothy Price Crain II sold 197,637 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $6.05, for a total value of $1,195,703.85. Following the completion of the sale, the senior vice president now owns 362,810 shares of the company’s stock, valued at $2,195,000.50. The trade was a 35.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,763,571 shares of company stock valued at $38,671,383 over the last quarter. 73.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

Several large investors have recently made changes to their positions in LUNR. Waldron Private Wealth LLC purchased a new stake in shares of Intuitive Machines during the third quarter worth about $83,000. Wedbush Securities Inc. bought a new position in Intuitive Machines in the 2nd quarter worth approximately $35,000. The Manufacturers Life Insurance Company purchased a new stake in Intuitive Machines during the 3rd quarter valued at approximately $85,000. SG Americas Securities LLC bought a new stake in shares of Intuitive Machines during the third quarter valued at approximately $93,000. Finally, Creative Planning bought a new stake in shares of Intuitive Machines during the third quarter valued at approximately $105,000. 72.21% of the stock is currently owned by hedge funds and other institutional investors.

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.