Intuitive Machines (NASDAQ:LUNR - Get Free Report) had its target price raised by investment analysts at Canaccord Genuity Group from $17.50 to $26.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective points to a potential upside of 38.37% from the stock's previous close.
LUNR has been the subject of a number of other research reports. Benchmark increased their price objective 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. Cantor Fitzgerald raised their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. B. Riley lifted their price objective on Intuitive Machines from $8.00 to $12.00 and gave the company a "buy" rating in a report on Thursday, September 19th. Finally, Roth Mkm reissued a "buy" rating and issued a $10.00 target price on shares of Intuitive Machines in a report on Wednesday, September 18th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $15.80.
Read Our Latest Stock Analysis on LUNR
Intuitive Machines Price Performance
Shares of NASDAQ LUNR traded down $1.08 during trading hours on Wednesday, reaching $18.79. The stock had a trading volume of 13,412,728 shares, compared to its average volume of 18,565,371. The company has a market cap of $2.64 billion, a price-to-earnings ratio of -6.39 and a beta of 0.90. Intuitive Machines has a twelve month low of $2.17 and a twelve month high of $22.32. The business's fifty day moving average is $13.54 and its two-hundred day moving average is $8.35.
Insider Transactions at Intuitive Machines
In other Intuitive Machines news, CEO Stephen J. Altemus sold 61,432 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $11.00, for a total value of $675,752.00. Following the completion of the sale, the chief executive officer now owns 910,919 shares in the company, valued at approximately $10,020,109. This trade represents a 6.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 177,734 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $7.93, for a total transaction of $1,409,430.62. Following the completion of the transaction, the director now directly owns 3,494,768 shares of the company's stock, valued at approximately $27,713,510.24. This represents a 4.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,954,713 shares of company stock valued at $24,475,385 in the last three months. 73.68% of the stock is owned by corporate insiders.
Institutional Trading of Intuitive Machines
A number of hedge funds and other institutional investors have recently modified their holdings of LUNR. Wedbush Securities Inc. bought a new position in Intuitive Machines in the 2nd quarter valued at $35,000. Sender Co & Partners Inc. acquired a new position in shares of Intuitive Machines during the second quarter valued at $56,000. Waldron Private Wealth LLC bought a new position in Intuitive Machines in the third quarter valued at about $83,000. The Manufacturers Life Insurance Company acquired a new stake in Intuitive Machines in the third quarter worth about $85,000. Finally, SG Americas Securities LLC bought a new stake in Intuitive Machines during the 3rd quarter worth about $93,000. Institutional investors and hedge funds own 72.21% of the company's stock.
About Intuitive Machines
(
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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.
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