Cantor Fitzgerald Forecasts Strong Price Appreciation for Intuitive Machines (NASDAQ:LUNR) Stock

Intuitive Machines (NASDAQ:LUNR) had its target price upped by equities researchers at Cantor Fitzgerald from $10.00 to $15.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 46.63% from the stock’s current price.

Several other analysts have also issued reports on the company. B. Riley boosted their target price on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Roth Mkm reissued a “buy” rating and issued a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. Finally, Benchmark reaffirmed a “buy” rating and set a $10.00 price objective on shares of Intuitive Machines in a research note on Wednesday, September 18th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $12.80.

Intuitive Machines Price Performance

Shares of Intuitive Machines stock opened at $10.23 on Friday. Intuitive Machines has a one year low of $2.09 and a one year high of $14.90. The business has a 50-day simple moving average of $7.77 and a 200 day simple moving average of $5.63. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -12.48 and a beta of 0.35.

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

Insider Transactions at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 197,637 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $6.05, for a total value of $1,195,703.85. Following the completion of the sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at $2,195,000.50. This trade represents a 35.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Stephen J. Altemus sold 138,568 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $11.10, for a total value of $1,538,104.80. Following the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at approximately $10,111,200.90. This represents a 13.20 % 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 in the last ninety days. Insiders own 73.68% of the company’s stock.

Institutional Investors Weigh In On Intuitive Machines

Several large investors have recently modified their holdings of LUNR. Vanguard Group Inc. increased its position in Intuitive Machines by 250.0% during the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock valued at $3,758,000 after buying an additional 429,531 shares in the last quarter. Sanders Morris Harris LLC grew its position in shares of Intuitive Machines by 264.9% during the 2nd quarter. Sanders Morris Harris LLC now owns 69,700 shares of the company’s stock valued at $230,000 after acquiring an additional 50,600 shares during the period. Bank of New York Mellon Corp purchased a new stake in Intuitive Machines in the 2nd quarter worth $272,000. Rhumbline Advisers acquired a new position in shares of Intuitive Machines during the second quarter valued at approximately $119,000. Finally, Wedbush Securities Inc. purchased a new stake in shares of Intuitive Machines during the second quarter worth $35,000. Institutional investors own 72.21% of the company’s stock.

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.