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

Cantor Fitzgerald reaffirmed their overweight rating on shares of Intuitive Machines (NASDAQ:LUNR) in a research note published on Wednesday, Benzinga reports. They currently have a $10.00 price target on the stock.

Other equities research analysts have also issued reports about the stock. B. Riley assumed coverage on shares of Intuitive Machines in a report on Friday, June 28th. They issued a buy rating and a $8.00 price objective for the company. Roth Mkm reissued a buy rating and issued a $10.00 price target on shares of Intuitive Machines in a research note on Wednesday. Finally, Benchmark reaffirmed a buy rating and set a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $10.60.

Intuitive Machines Stock Down 1.4 %

LUNR opened at $9.15 on Wednesday. The business’s fifty day simple moving average is $4.81 and its 200 day simple moving average is $4.93. Intuitive Machines has a 52 week low of $2.09 and a 52 week high of $13.25. The stock has a market cap of $1.14 billion, a PE ratio of 22.32 and a beta of 0.26.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings data on Tuesday, August 13th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The firm had revenue of $41.41 million for the quarter, compared to analysts’ expectations of $43.00 million. As a group, equities analysts anticipate that Intuitive Machines will post 0.47 earnings per share for the current year.

Insider Activity

In related news, CEO Stephen J. Altemus sold 250,000 shares of Intuitive Machines stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $9.01, for a total value of $2,252,500.00. Following the sale, the chief executive officer now owns 910,919 shares in the company, valued at $8,207,380.19. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Kamal Seyed Ghaffarian sold 570,705 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $6.08, for a total value of $3,469,886.40. Following the completion of the transaction, the director now owns 3,551,606 shares in the company, valued at approximately $21,593,764.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Stephen J. Altemus sold 250,000 shares of Intuitive Machines stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $9.01, for a total value of $2,252,500.00. Following the sale, the chief executive officer now owns 910,919 shares in the company, valued at $8,207,380.19. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,039,827 shares of company stock valued at $20,042,765. Company insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Intuitive Machines by 250.0% in the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after buying an additional 429,531 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Intuitive Machines during the second quarter valued at approximately $536,000. Bank of New York Mellon Corp purchased a new position in shares of Intuitive Machines during the second quarter valued at approximately $272,000. Sanders Morris Harris LLC boosted its position in shares of Intuitive Machines by 264.9% in the 2nd quarter. Sanders Morris Harris LLC now owns 69,700 shares of the company’s stock worth $230,000 after purchasing an additional 50,600 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Intuitive Machines in the 2nd quarter worth approximately $164,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Intuitive Machines Company Profile

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.