Intuitive Machines (NASDAQ:LUNR) Given New $15.00 Price Target at Cantor Fitzgerald

Intuitive Machines (NASDAQ:LUNR) had its target price raised by Cantor Fitzgerald from $10.00 to $15.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on LUNR. Roth Mkm restated a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. Benchmark restated a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday, September 18th. Finally, B. Riley lifted their target price on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $13.10.

Intuitive Machines Trading Up 21.4 %

LUNR stock traded up $2.19 during midday trading on Friday, hitting $12.42. 37,661,389 shares of the company’s stock were exchanged, compared to its average volume of 9,480,033. The firm has a 50 day moving average price of $8.02 and a 200-day moving average price of $5.71. Intuitive Machines has a 12-month low of $2.09 and a 12-month high of $14.90. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of -15.15 and a beta of 0.35.

Intuitive Machines (NASDAQ:LUNR) last issued its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.09. The company had revenue of $41.41 million during the quarter, compared to the consensus estimate of $43.00 million. On average, sell-side analysts forecast that Intuitive Machines will post 0.47 EPS for the current fiscal year.

Insider Buying and Selling

In other Intuitive Machines news, CEO Stephen J. Altemus sold 440,288 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $6.03, for a total value of $2,654,936.64. Following the completion of the transaction, the chief executive officer now owns 910,919 shares in the company, valued at approximately $5,492,841.57. This represents a 32.58 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kamal Seyed Ghaffarian sold 1,007,928 shares of Intuitive Machines stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $8.31, for a total value of $8,375,881.68. Following the sale, the director now directly owns 3,494,768 shares in the company, valued at approximately $29,041,522.08. This trade represents a 22.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,763,571 shares of company stock worth $38,671,383 over the last quarter. 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 the business. Wedbush Securities Inc. bought a new position in shares of Intuitive Machines in the second quarter worth $35,000. Sender Co & Partners Inc. acquired a new stake in Intuitive Machines in the second quarter worth about $56,000. Waldron Private Wealth LLC bought a new position in Intuitive Machines in the 3rd quarter valued at about $83,000. The Manufacturers Life Insurance Company acquired a new position in Intuitive Machines during the 3rd quarter valued at about $85,000. Finally, SG Americas Securities LLC bought a new stake in shares of Intuitive Machines during the 3rd quarter worth about $93,000. 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.