Intuitive Machines (NASDAQ:LUNR) Price Target Raised to $21.50

Intuitive Machines (NASDAQ:LUNR) had its price objective raised by Canaccord Genuity Group from $21.00 to $21.50 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other brokerages have also recently issued reports on LUNR. Roth Mkm dropped their target price on shares of Intuitive Machines from $20.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 11th. Benchmark restated a “buy” rating and issued a $16.00 target price on shares of Intuitive Machines in a report on Tuesday, March 25th. Cantor Fitzgerald raised their target price on shares of Intuitive Machines from $13.00 to $16.00 and gave the stock an “overweight” rating in a report on Wednesday. B. Riley restated a “buy” rating on shares of Intuitive Machines in a report on Tuesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intuitive Machines in a report on Tuesday, February 25th. They issued a “hold” rating and a $18.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.44.

Intuitive Machines Stock Performance

Shares of LUNR opened at $12.36 on Wednesday. The stock has a market cap of $2.20 billion, a PE ratio of -4.20 and a beta of 1.32. Intuitive Machines has a fifty-two week low of $3.15 and a fifty-two week high of $24.95. The firm’s 50-day simple moving average is $8.32 and its two-hundred day simple moving average is $13.12.

Intuitive Machines (NASDAQ:LUNR) last posted its quarterly earnings results on Tuesday, May 13th. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.10). The firm had revenue of $62.52 million for the quarter, compared to analysts’ expectations of $66.07 million. Equities research analysts predict that Intuitive Machines will post 0.73 EPS for the current year.

Insider Activity

In other Intuitive Machines news, Director Kamal Seyed Ghaffarian sold 161,016 shares of Intuitive Machines stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $12.10, for a total transaction of $1,948,293.60. Following the completion of the sale, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $42,286,692.80. The trade was a 4.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Peter Mcgrath sold 37,906 shares of Intuitive Machines stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $7.71, for a total value of $292,255.26. Following the sale, the chief financial officer now directly owns 438,992 shares of the company’s stock, valued at approximately $3,384,628.32. This represents a 7.95% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 271,090 shares of company stock worth $3,106,565. 73.68% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently modified their holdings of the stock. Philadelphia Trust Co. lifted its holdings in shares of Intuitive Machines by 10.0% in the 1st quarter. Philadelphia Trust Co. now owns 11,000 shares of the company’s stock valued at $82,000 after buying an additional 1,000 shares during the period. Invesco Ltd. lifted its holdings in shares of Intuitive Machines by 8.3% in the 4th quarter. Invesco Ltd. now owns 13,449 shares of the company’s stock valued at $244,000 after buying an additional 1,026 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Intuitive Machines by 10.0% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,187 shares of the company’s stock valued at $312,000 after buying an additional 1,566 shares during the period. Quarry LP acquired a new position in shares of Intuitive Machines in the 4th quarter valued at about $44,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Intuitive Machines by 3.7% in the 4th quarter. Bank of New York Mellon Corp now owns 70,740 shares of the company’s stock valued at $1,285,000 after buying an additional 2,499 shares during the period. Institutional investors and hedge funds 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.