Canaccord Genuity Group Issues Pessimistic Forecast for Intuitive Machines (NASDAQ:LUNR) Stock Price

Intuitive Machines (NASDAQ:LUNR - Free Report) had its price objective lowered by Canaccord Genuity Group from $26.00 to $22.00 in a research report released on Friday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

LUNR has been the subject of several other research reports. Cantor Fitzgerald raised their target price on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an "overweight" rating in a report on Friday, November 15th. Benchmark increased their target price on Intuitive Machines from $10.00 to $16.00 and gave the stock a "buy" rating in a research note on Friday, November 15th. Bank of America began coverage on shares of Intuitive Machines in a research note on Wednesday, February 5th. They set an "underperform" rating and a $16.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Intuitive Machines in a report on Tuesday, February 25th. They set a "hold" rating and a $18.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $16.13.

Intuitive Machines Trading Down 22.7 %

Shares of NASDAQ:LUNR traded down $1.99 during trading on Friday, reaching $6.78. The company's stock had a trading volume of 24,907,387 shares, compared to its average volume of 15,610,262. The stock has a market capitalization of $951.55 million, a PE ratio of -2.31 and a beta of 1.01. Intuitive Machines has a 12 month low of $3.15 and a 12 month high of $24.95. The firm's 50 day simple moving average is $18.67 and its two-hundred day simple moving average is $12.76.

Remove Ads

Insider Activity

In other news, 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 transaction, the director now directly owns 3,494,768 shares in the company, valued at approximately $64,128,992.80. This represents a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Steven Vontur sold 9,266 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $22.50, for a total transaction of $208,485.00. Following the completion of the transaction, the insider now owns 98,656 shares of the company's stock, valued at approximately $2,219,760. This trade represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 393,659 shares of company stock worth $7,262,364. Corporate insiders own 73.68% of the company's stock.

Institutional Investors Weigh In On Intuitive Machines

Several hedge funds have recently modified their holdings of LUNR. Tealwood Asset Management Inc. boosted its position in shares of Intuitive Machines by 4.5% in the 4th quarter. Tealwood Asset Management Inc. now owns 20,900 shares of the company's stock worth $380,000 after buying an additional 900 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Intuitive Machines by 8.3% in the fourth quarter. Invesco Ltd. now owns 13,449 shares of the company's stock valued at $244,000 after purchasing an additional 1,026 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Intuitive Machines by 10.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,187 shares of the company's stock valued at $312,000 after purchasing an additional 1,566 shares during the last quarter. Quarry LP purchased a new stake in Intuitive Machines in the 4th quarter valued at approximately $44,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Intuitive Machines by 3.7% in the fourth quarter. Bank of New York Mellon Corp now owns 70,740 shares of the company's stock valued at $1,285,000 after acquiring an additional 2,499 shares in the last quarter. 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.