Intuitive Machines (NASDAQ:LUNR) Given New $26.00 Price Target at Canaccord Genuity Group

Intuitive Machines (NASDAQ:LUNR) had its price objective upped by investment analysts at Canaccord Genuity Group from $17.50 to $26.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 38.37% from the stock’s current price.

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

Intuitive Machines Stock Down 5.4 %

Intuitive Machines stock opened at $18.79 on Wednesday. Intuitive Machines has a twelve month low of $2.17 and a twelve month high of $22.32. The company’s 50-day moving average price is $13.98 and its 200-day moving average price is $8.50. The company has a market cap of $2.64 billion, a PE ratio of -6.39 and a beta of 0.90.

Insider Transactions at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $18.35, for a total value of $6,935,804.55. Following the completion of the transaction, the director now owns 3,494,768 shares of the company’s stock, valued at $64,128,992.80. The trade was a 9.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Timothy Price Crain II sold 400,000 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $12.10, for a total value of $4,840,000.00. Following the sale, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $4,390,001. This trade represents a 52.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety 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 large investors have recently made changes to their positions in LUNR. Barclays PLC increased its holdings in Intuitive Machines by 275.2% in the third quarter. Barclays PLC now owns 37,323 shares of the company’s stock valued at $300,000 after buying an additional 27,376 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Intuitive Machines by 31.2% during the 3rd quarter. Geode Capital Management LLC now owns 933,272 shares of the company’s stock valued at $7,514,000 after acquiring an additional 222,136 shares during the period. Savoie Capital LLC purchased a new position in shares of Intuitive Machines in the 3rd quarter valued at about $112,000. State Street Corp raised its holdings in Intuitive Machines by 1.3% in the 3rd quarter. State Street Corp now owns 576,051 shares of the company’s stock worth $4,637,000 after purchasing an additional 7,538 shares during the period. Finally, Stifel Financial Corp purchased a new position in Intuitive Machines during the third quarter worth approximately $525,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.