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

Intuitive Machines (NASDAQ:LUNR) had its price objective trimmed by Canaccord Genuity Group from $22.00 to $21.00 in a research report released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

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

Intuitive Machines Price Performance

Shares of LUNR opened at $8.27 on Tuesday. The firm has a market cap of $1.16 billion, a PE ratio of -2.81 and a beta of 1.01. Intuitive Machines has a 1 year low of $3.15 and a 1 year high of $24.95. The stock’s fifty day moving average price is $15.49 and its two-hundred day moving average price is $12.90.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings results on Tuesday, March 25th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.12. The company had revenue of $54.66 million for the quarter, compared to the consensus estimate of $72.58 million. Sell-side analysts anticipate that Intuitive Machines will post 0.73 earnings per share for the current fiscal year.

Insider Activity at Intuitive Machines

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction dated 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 approximately $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Vontur sold 9,266 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $22.50, for a total value of $208,485.00. Following the completion of the sale, the insider now directly owns 98,656 shares in the company, valued at $2,219,760. This represents a 8.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 391,767 shares of company stock worth $7,233,038 in the last three months. Company insiders own 73.68% of the company’s stock.

Institutional Trading of Intuitive Machines

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in 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 acquiring an additional 32,015 shares during the last quarter. Penserra Capital Management LLC boosted its position in Intuitive Machines by 16.5% during the third quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock worth $1,190,000 after acquiring an additional 20,916 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in shares of Intuitive Machines in the third quarter valued at $85,000. MetLife Investment Management LLC purchased a new stake in Intuitive Machines in the 3rd quarter valued at about $138,000. Finally, FORA Capital LLC acquired a new stake in shares of Intuitive Machines during the 3rd quarter worth $458,000. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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.