Intuitive Machines (NASDAQ:LUNR) Given New $22.00 Price Target at Canaccord Genuity Group

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

LUNR has been the topic of several other research reports. Benchmark raised their price target on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft began coverage on Intuitive Machines in a research note on Tuesday, February 25th. They set a "hold" rating and a $18.00 target price on the stock. Bank of America initiated coverage on Intuitive Machines in a research note on Wednesday, February 5th. They issued an "underperform" rating and a $16.00 price target for the company. Finally, Cantor Fitzgerald raised 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. One equities 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.38.

Intuitive Machines Price Performance

Shares of LUNR stock traded down $0.30 during trading hours on Friday, reaching $6.48. The stock had a trading volume of 20,132,982 shares, compared to its average volume of 15,710,720. The firm has a market capitalization of $909.45 million, a PE ratio of -2.20 and a beta of 1.01. The firm has a 50-day simple moving average of $18.42 and a 200-day simple moving average of $12.77. Intuitive Machines has a twelve month low of $3.15 and a twelve month high of $24.95.

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Insider Buying and Selling at Intuitive Machines

In other news, insider Steven Vontur sold 9,266 shares of the firm's stock in a transaction 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 owns 98,656 shares in the company, valued at approximately $2,219,760. This trade represents a 8.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm's 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 $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. Insiders sold 393,659 shares of company stock worth $7,262,364 over the last ninety days. Company insiders own 73.68% of the company's stock.

Institutional Investors Weigh In On Intuitive Machines

Large investors have recently modified their holdings of the stock. PharVision Advisers LLC bought a new stake in Intuitive Machines during the fourth quarter worth about $185,000. Voloridge Investment Management LLC bought a new stake in shares of Intuitive Machines in the 4th quarter valued at about $3,768,000. Soviero Asset Management LP increased its holdings in shares of Intuitive Machines by 65.0% in the fourth quarter. Soviero Asset Management LP now owns 330,000 shares of the company's stock worth $5,993,000 after acquiring an additional 130,000 shares in the last quarter. Two Sigma Advisers LP bought a new position in Intuitive Machines during the 4th quarter worth about $4,971,000. Finally, Two Sigma Investments LP bought a new position in Intuitive Machines in the fourth quarter valued at $33,255,000. 72.21% of the stock is currently owned by institutional investors.

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.