Canaccord Genuity Group Lowers Intuitive Machines (NASDAQ:LUNR) Price Target to $21.00

Intuitive Machines (NASDAQ:LUNR - Free Report) had its target price cut by Canaccord Genuity Group from $22.00 to $21.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts also recently weighed in on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Intuitive Machines in a research report on Tuesday, February 25th. They set a "hold" rating and a $18.00 target price for the company. Roth Capital set a $20.00 price objective on Intuitive Machines in a report on Friday, March 7th. Roth Mkm decreased their target price on Intuitive Machines from $20.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, March 11th. Bank of America started coverage on Intuitive Machines in a research report on Wednesday, February 5th. They set an "underperform" rating and a $16.00 price target on the stock. Finally, Benchmark reiterated a "buy" rating and set a $16.00 price target on shares of Intuitive Machines in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Intuitive Machines currently has an average rating of "Moderate Buy" and an average price target of $16.00.

Remove Ads

Intuitive Machines Trading Down 2.4 %

Shares of LUNR traded down $0.20 on Tuesday, reaching $8.07. 7,242,922 shares of the company's stock traded hands, compared to its average volume of 11,795,965. The stock's 50 day simple moving average is $15.28 and its two-hundred day simple moving average is $12.92. The stock has a market cap of $1.13 billion, a PE ratio of -2.74 and a beta of 1.01. Intuitive Machines has a 52-week low of $3.15 and a 52-week high of $24.95.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.12. The business had revenue of $54.66 million for the quarter, compared to analysts' expectations of $72.58 million. Analysts forecast that Intuitive Machines will post 0.73 earnings per share for the current year.

Insider Transactions at Intuitive Machines

In related news, insider Steven Vontur sold 4,528 shares of Intuitive Machines stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total transaction of $88,748.80. Following the completion of the sale, the insider now owns 104,272 shares of the company's stock, valued at approximately $2,043,731.20. This trade represents a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the director now owns 3,494,768 shares in the company, valued at $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 391,767 shares of company stock valued at $7,233,038. 73.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Intuitive Machines

Large investors have recently modified their holdings of the business. Two Sigma Investments LP purchased a new stake in Intuitive Machines in the fourth quarter valued at approximately $33,255,000. D. E. Shaw & Co. Inc. increased its holdings in shares of Intuitive Machines by 3,991.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,161,981 shares of the company's stock worth $21,102,000 after buying an additional 1,133,581 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Intuitive Machines by 33.6% during the 4th quarter. Vanguard Group Inc. now owns 4,047,538 shares of the company's stock valued at $73,503,000 after buying an additional 1,017,706 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Intuitive Machines by 99.6% during the 4th quarter. Renaissance Technologies LLC now owns 1,220,800 shares of the company's stock worth $22,170,000 after acquiring an additional 609,118 shares during the last quarter. Finally, Driehaus Capital Management LLC purchased a new position in Intuitive Machines in the fourth quarter worth $9,133,000. Institutional investors own 72.21% of the company's stock.

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.