Intuitive Machines’ (LUNR) “Overweight” Rating Reiterated at Cantor Fitzgerald

Intuitive Machines (NASDAQ:LUNR)‘s stock had its “overweight” rating reaffirmed by equities researchers at Cantor Fitzgerald in a note issued to investors on Tuesday, Benzinga reports. They currently have a $10.00 price objective on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 102.02% from the company’s current price.

Several other brokerages have also recently commented on LUNR. B. Riley began coverage on shares of Intuitive Machines in a report on Friday, June 28th. They set a “buy” rating and a $8.00 target price on the stock. Roth Mkm lifted their price target on shares of Intuitive Machines from $7.00 to $10.00 and gave the company a “buy” rating in a research note on Friday. Canaccord Genuity Group decreased their price target on shares of Intuitive Machines from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Finally, Benchmark reissued a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research report on Wednesday, August 14th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $9.80.

Intuitive Machines Price Performance

LUNR stock traded down $0.02 during trading hours on Tuesday, reaching $4.95. 4,610,366 shares of the stock were exchanged, compared to its average volume of 6,503,199. The firm’s 50-day moving average is $4.12 and its 200-day moving average is $5.02. Intuitive Machines has a 12 month low of $2.09 and a 12 month high of $13.25. The company has a market cap of $636.32 million, a price-to-earnings ratio of 12.07 and a beta of 0.21.

Insider Buying and Selling

In related news, CEO Stephen J. Altemus sold 203,018 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $4.53, for a total transaction of $919,671.54. Following the completion of the sale, the chief executive officer now directly owns 910,919 shares in the company, valued at $4,126,463.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Stephen J. Altemus sold 203,018 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $4.53, for a total value of $919,671.54. Following the transaction, the chief executive officer now owns 910,919 shares of the company’s stock, valued at approximately $4,126,463.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Timothy Price Crain II sold 50,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $3.36, for a total transaction of $168,000.00. Following the completion of the transaction, the senior vice president now directly owns 362,810 shares in the company, valued at approximately $1,219,041.60. The disclosure for this sale can be found here. Insiders have sold 607,050 shares of company stock valued at $2,508,917 over the last quarter. Corporate insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Solstein Capital LLC acquired a new stake in Intuitive Machines during the 1st quarter worth approximately $44,000. Wedbush Securities Inc. acquired a new stake in shares of Intuitive Machines in the 2nd quarter worth $35,000. Baltimore Washington Financial Advisors Inc. acquired a new stake in shares of Intuitive Machines in the first quarter valued at about $67,000. Sender Co & Partners Inc. purchased a new position in Intuitive Machines during the 2nd quarter valued at about $56,000. Finally, Sanders Morris Harris LLC purchased a new position in Intuitive Machines during the 1st quarter valued at about $119,000. 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.