Canaccord Genuity Group Cuts Intuitive Machines (NASDAQ:LUNR) Price Target to $22.00

Intuitive Machines (NASDAQ:LUNR) had its target price reduced by Canaccord Genuity Group from $26.00 to $22.00 in a report issued on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other research analysts also recently commented on LUNR. Cantor Fitzgerald lifted 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intuitive Machines in a research note on Tuesday, February 25th. They set a “hold” rating and a $18.00 price target on the stock. Bank of America initiated coverage on shares of Intuitive Machines in a research note on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 target price on the stock. Finally, Benchmark lifted their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $15.57.

Intuitive Machines Stock Performance

LUNR stock opened at $8.77 on Friday. The company has a market capitalization of $1.23 billion, a PE ratio of -2.98 and a beta of 1.01. Intuitive Machines has a one year low of $3.15 and a one year high of $24.95. The company’s 50 day moving average price is $18.67 and its two-hundred day moving average price is $12.76.

Insider Buying and Selling

In related news, insider Steven Vontur sold 9,266 shares of Intuitive Machines 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 $2,219,760. The trade was a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of Intuitive Machines stock in a transaction on Monday, December 30th. The shares were 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 approximately $64,128,992.80. This trade represents a 9.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 393,659 shares of company stock valued at $7,262,364 over the last three months. 73.68% of the stock is owned by company insiders.

Institutional Trading of Intuitive Machines

Several large investors have recently added to or reduced their stakes in LUNR. Creative Planning bought a new stake in shares of Intuitive Machines during the 3rd quarter valued at $105,000. LMR Partners LLP bought a new stake in shares of Intuitive Machines during the 3rd quarter valued at $110,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Intuitive Machines by 44.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock valued at $836,000 after buying an additional 32,015 shares in the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Intuitive Machines by 16.5% during the 3rd quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock valued at $1,190,000 after buying an additional 20,916 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Intuitive Machines during the 3rd quarter valued at $85,000. Institutional investors own 72.21% of the company’s stock.

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.