Canaccord Genuity Group Lowers Intuitive Machines (NASDAQ:LUNR) Price Target to $21.00

Intuitive Machines (NASDAQ:LUNR) had its target price decreased by Canaccord Genuity Group from $22.00 to $21.00 in a research note published on Tuesday,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

Several other equities research analysts also recently issued reports on LUNR. Bank of America assumed coverage on Intuitive Machines in a research report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 price target on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intuitive Machines in a research note on Tuesday, February 25th. They issued a “hold” rating and a $18.00 target price on the stock. Roth Capital set a $20.00 target price on shares of Intuitive Machines in a research note on Friday, March 7th. Roth Mkm lowered their price objective on Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 11th. Finally, Benchmark reaffirmed a “buy” rating and set a $16.00 price objective on shares of Intuitive Machines in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Intuitive Machines presently has an average rating of “Moderate Buy” and a consensus target price of $16.00.

Intuitive Machines Trading Down 5.9 %

LUNR opened at $8.27 on Tuesday. Intuitive Machines has a twelve month low of $3.15 and a twelve month high of $24.95. The stock has a market cap of $1.16 billion, a PE ratio of -2.81 and a beta of 1.01. The business’s 50 day moving average is $15.49 and its 200-day moving average is $12.90.

Intuitive Machines (NASDAQ:LUNR) last released its earnings results on Tuesday, March 25th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.12. The firm had revenue of $54.66 million during the quarter, compared to analysts’ expectations of $72.58 million. As a group, analysts forecast that Intuitive Machines will post 0.73 EPS for the current year.

Insider Buying and Selling

In related news, insider Steven Vontur sold 4,528 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $19.60, for a total transaction of $88,748.80. Following the transaction, the insider now directly owns 104,272 shares of the company’s stock, valued at $2,043,731.20. This represents a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the business’s 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 sale, the director now owns 3,494,768 shares of the company’s stock, valued at $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 391,767 shares of company stock worth $7,233,038 in the last ninety days. Company insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

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