Canaccord Genuity Group Cuts Intuitive Machines (NASDAQ:LUNR) Price Target to $17.50

Intuitive Machines (NASDAQ:LUNR) had its price objective cut by Canaccord Genuity Group from $19.00 to $17.50 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued research reports about the company. B. Riley upped their price objective on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Roth Mkm reaffirmed a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Benchmark upped their price objective on Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Finally, Cantor Fitzgerald upped their price objective on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, Intuitive Machines has a consensus rating of “Buy” and an average target price of $14.10.

Intuitive Machines Price Performance

Shares of LUNR stock opened at $12.42 on Friday. The business’s fifty day moving average price is $10.01 and its 200 day moving average price is $6.58. Intuitive Machines has a 1-year low of $2.09 and a 1-year high of $17.14. The firm has a market capitalization of $1.74 billion, a PE ratio of -4.22 and a beta of 0.93.

Insiders Place Their Bets

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $15.04, for a total value of $5,684,713.92. Following the sale, the director now directly owns 3,494,768 shares in the company, valued at $52,561,310.72. This represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Timothy Price Crain II sold 400,000 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total value of $4,840,000.00. Following the completion of the sale, the senior vice president now owns 362,810 shares in the company, valued at $4,390,001. This represents a 52.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,140,344 shares of company stock worth $44,348,897. 73.68% of the stock is owned by corporate insiders.

Institutional Trading of Intuitive Machines

Several institutional investors and hedge funds have recently made changes to their positions in LUNR. Wedbush Securities Inc. purchased a new stake in shares of Intuitive Machines in the second quarter valued at $35,000. Sender Co & Partners Inc. acquired a new position in Intuitive Machines in the second quarter valued at $56,000. Waldron Private Wealth LLC acquired a new position in Intuitive Machines in the third quarter valued at $83,000. The Manufacturers Life Insurance Company acquired a new position in Intuitive Machines in the third quarter valued at $85,000. Finally, SG Americas Securities LLC acquired a new position in Intuitive Machines in the third quarter valued at $93,000. 72.21% of the stock is currently owned by hedge funds and other 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.