Benchmark Issues Positive Forecast for Intuitive Machines (NASDAQ:LUNR) Stock Price

Intuitive Machines (NASDAQ:LUNR) had its target price boosted by equities researchers at Benchmark from $10.00 to $16.00 in a report released on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective suggests a potential upside of 56.40% from the stock’s previous close.

Several other research firms have also recently commented 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. B. Riley lifted their price target on Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Cantor Fitzgerald increased their price target on Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $12.80.

Intuitive Machines Stock Down 13.0 %

Intuitive Machines stock opened at $10.23 on Friday. The business has a 50 day moving average price of $7.77 and a two-hundred day moving average price of $5.63. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of -12.48 and a beta of 0.35. Intuitive Machines has a 12 month low of $2.09 and a 12 month high of $14.90.

Intuitive Machines (NASDAQ:LUNR) last released its earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $41.41 million for the quarter, compared to analyst estimates of $43.00 million. On average, analysts expect that Intuitive Machines will post 0.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Intuitive Machines news, CFO Steven Vontur sold 10,274 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $5.58, for a total transaction of $57,328.92. Following the completion of the sale, the chief financial officer now owns 117,500 shares of the company’s stock, valued at approximately $655,650. This represents a 8.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Timothy Price Crain II sold 197,637 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $6.05, for a total transaction of $1,195,703.85. Following the completion of the transaction, the senior vice president now owns 362,810 shares in the company, valued at approximately $2,195,000.50. The trade was a 35.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,763,571 shares of company stock worth $38,671,383 in the last 90 days. Insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wedbush Securities Inc. bought a new stake in Intuitive Machines during the 2nd quarter worth approximately $35,000. Sender Co & Partners Inc. purchased a new position in Intuitive Machines in the second quarter valued at approximately $56,000. Waldron Private Wealth LLC purchased a new stake in Intuitive Machines in the 3rd quarter worth about $83,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Intuitive Machines during the 3rd quarter valued at approximately $85,000. Finally, SG Americas Securities LLC purchased a new position in shares of Intuitive Machines in the third quarter valued at $93,000. 72.21% of the stock is owned by institutional investors and hedge funds.

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.