Bank of America Initiates Coverage on Intuitive Machines (NASDAQ:LUNR)

Bank of America began coverage on shares of Intuitive Machines (NASDAQ:LUNR - Get Free Report) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set an "underperform" rating and a $16.00 price target on the stock. Bank of America's price target indicates a potential downside of 13.04% from the company's current price.

Several other analysts have also weighed in on LUNR. Benchmark lifted their target price 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. Canaccord Genuity Group boosted their target price on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. Finally, Cantor Fitzgerald boosted their target price on Intuitive Machines from $10.00 to $15.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $15.83.

Intuitive Machines Stock Down 5.1 %

LUNR stock traded down $0.99 during mid-day trading on Wednesday, reaching $18.40. 11,630,130 shares of the stock traded hands, compared to its average volume of 12,584,175. The business has a 50-day moving average of $17.57 and a two-hundred day moving average of $10.89. The firm has a market capitalization of $2.58 billion, a PE ratio of -6.26 and a beta of 0.92. Intuitive Machines has a 52 week low of $3.15 and a 52 week high of $24.95.

Insider Buying and Selling at Intuitive Machines

In related news, insider Steven Vontur sold 9,266 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $22.50, for a total value of $208,485.00. Following the sale, the insider now directly owns 98,656 shares in the company, valued at $2,219,760. This trade represents a 8.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $18.35, for a total transaction 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 trade represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,367,104 shares of company stock worth $19,912,186. Company insiders own 73.68% of the company's stock.

Hedge Funds Weigh In On Intuitive Machines

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new position in Intuitive Machines during the fourth quarter worth $183,000. Charles Schwab Investment Management Inc. raised its holdings in Intuitive Machines by 5.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 109,761 shares of the company's stock worth $1,993,000 after acquiring an additional 5,970 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Intuitive Machines by 201.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company's stock valued at $90,000 after purchasing an additional 3,300 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Intuitive Machines during the fourth quarter worth $2,361,000. Finally, Jones Financial Companies Lllp grew its position in shares of Intuitive Machines by 751.3% in the 4th quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company's stock valued at $70,000 after acquiring an additional 3,381 shares during the period. 72.21% of the stock is 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.