Intuitive Machines (NASDAQ:LUNR) Price Target Raised to $12.50

Intuitive Machines (NASDAQ:LUNR - Free Report) had its price target lifted by Canaccord Genuity Group from $11.00 to $12.50 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on LUNR. Cantor Fitzgerald lifted 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. Benchmark lifted their price objective on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a "buy" rating in a report on Friday. Roth Mkm reissued a "buy" rating and set a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. Finally, B. Riley lifted their price target on Intuitive Machines from $8.00 to $12.00 and gave the company a "buy" rating in a research note on Thursday, September 19th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $13.10.

Intuitive Machines Trading Up 21.4 %

Shares of LUNR stock traded up $2.19 during mid-day trading on Friday, reaching $12.42. The stock had a trading volume of 37,532,012 shares, compared to its average volume of 9,480,033. Intuitive Machines has a 1-year low of $2.09 and a 1-year high of $14.90. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -13.99 and a beta of 0.35. The business's fifty day moving average is $7.87 and its 200-day moving average is $5.66.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) last posted its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.14) by $0.09. The business had revenue of $41.41 million for the quarter, compared to analysts' expectations of $43.00 million. On average, analysts forecast that Intuitive Machines will post 0.47 earnings per share for the current year.

Insider Buying and Selling at Intuitive Machines

In related news, CFO Steven Vontur sold 10,274 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $5.58, for a total value of $57,328.92. Following the completion of the transaction, the chief financial officer now directly owns 117,500 shares of the company's stock, valued at approximately $655,650. This represents a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Timothy Price Crain II sold 197,637 shares of Intuitive Machines stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $6.05, for a total transaction of $1,195,703.85. Following the sale, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $2,195,000.50. This trade represents a 35.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,763,571 shares of company stock valued at $38,671,383 over the last ninety days. Corporate insiders own 73.68% of the company's stock.

Hedge Funds Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently bought and sold shares of the business. Barclays PLC raised its holdings in shares of Intuitive Machines by 275.2% during the 3rd quarter. Barclays PLC now owns 37,323 shares of the company's stock worth $300,000 after acquiring an additional 27,376 shares during the period. State Street Corp lifted its position in shares of Intuitive Machines by 1.3% during 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 last quarter. Stifel Financial Corp purchased a new position in Intuitive Machines in the third quarter valued at $525,000. FORA Capital LLC acquired a new stake in Intuitive Machines in the third quarter valued at $458,000. Finally, MetLife Investment Management LLC purchased a new stake in Intuitive Machines during the 3rd quarter worth about $138,000. 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.