Canaccord Genuity Group Has Lowered Expectations for Intuitive Machines (NASDAQ:LUNR) Stock Price

Intuitive Machines (NASDAQ:LUNR) had its price objective lowered by analysts at Canaccord Genuity Group from $22.00 to $21.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 131.53% from the stock’s previous close.

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

Intuitive Machines Price Performance

NASDAQ LUNR traded down $0.15 during mid-day trading on Tuesday, reaching $9.07. The stock had a trading volume of 5,757,529 shares, compared to its average volume of 15,249,328. The company has a fifty day moving average price of $16.06 and a 200 day moving average price of $12.93. Intuitive Machines has a 1 year low of $3.15 and a 1 year high of $24.95. The stock has a market cap of $1.27 billion, a PE ratio of -3.08 and a beta of 1.01.

Insider Buying and Selling

In other Intuitive Machines news, insider Steven Vontur sold 4,528 shares of Intuitive Machines stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $19.60, for a total value of $88,748.80. Following the sale, the insider now owns 104,272 shares of the company’s stock, valued at $2,043,731.20. The trade was a 4.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $18.35, for a total value of $6,935,804.55. Following the transaction, the director now owns 3,494,768 shares of the company’s stock, valued at $64,128,992.80. This represents a 9.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 392,713 shares of company stock valued at $7,250,066. Company insiders own 73.68% of the company’s stock.

Hedge Funds Weigh In On Intuitive Machines

Several institutional investors have recently bought and sold shares of the business. PharVision Advisers LLC bought a new position in Intuitive Machines in the 4th quarter valued at $185,000. Voloridge Investment Management LLC acquired a new stake in Intuitive Machines in the fourth quarter worth about $3,768,000. Soviero Asset Management LP boosted its stake in Intuitive Machines by 65.0% in the 4th quarter. Soviero Asset Management LP now owns 330,000 shares of the company’s stock worth $5,993,000 after purchasing an additional 130,000 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of Intuitive Machines during the fourth quarter valued at $4,971,000. Finally, Two Sigma Investments LP purchased a new stake in Intuitive Machines during the 4th quarter valued at about $33,255,000. 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.