Intuitive Machines (NASDAQ:LUNR) Price Target Cut to $22.00 by Analysts at Canaccord Genuity Group

Intuitive Machines (NASDAQ:LUNR) had its target price cut by Canaccord Genuity Group from $26.00 to $22.00 in a report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

LUNR has been the subject of several other research reports. Bank of America initiated coverage on Intuitive Machines in a research report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price objective for the company. Cantor Fitzgerald lifted their price target on Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intuitive Machines in a report on Tuesday, February 25th. They set a “hold” rating and a $18.00 price objective on the stock. Finally, Benchmark boosted their target price 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, Intuitive Machines has an average rating of “Moderate Buy” and an average price target of $15.57.

Intuitive Machines Trading Down 22.1 %

NASDAQ LUNR opened at $8.77 on Friday. Intuitive Machines has a 1-year low of $3.15 and a 1-year high of $24.95. The company has a 50 day moving average of $18.67 and a 200-day moving average of $12.66. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -2.98 and a beta of 1.01.

Insider Buying and Selling

In related news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’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 sale, the director now owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Steven Vontur sold 9,266 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $22.50, for a total value of $208,485.00. Following the completion of the transaction, the insider now directly owns 98,656 shares in the company, valued at $2,219,760. The trade was a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 393,659 shares of company stock valued at $7,262,364 over the last ninety days. Insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

A number of institutional investors and hedge funds have recently modified their holdings of LUNR. PharVision Advisers LLC bought a new stake in Intuitive Machines in the fourth quarter valued at approximately $185,000. Voloridge Investment Management LLC bought a new stake in shares of Intuitive Machines in the 4th quarter valued at $3,768,000. Soviero Asset Management LP raised its stake in Intuitive Machines by 65.0% during the 4th quarter. Soviero Asset Management LP now owns 330,000 shares of the company’s stock worth $5,993,000 after buying an additional 130,000 shares during the period. Two Sigma Advisers LP acquired a new stake in Intuitive Machines during the 4th quarter worth $4,971,000. Finally, Two Sigma Investments LP bought a new position in Intuitive Machines during the fourth quarter worth about $33,255,000. 72.21% of the stock is owned by 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.