Intuitive Machines (NASDAQ:LUNR) Given New $16.00 Price Target at Benchmark

Intuitive Machines (NASDAQ:LUNR) had its price target boosted by Benchmark from $10.00 to $16.00 in a research report sent to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

LUNR has been the topic of a number of other research reports. Roth Mkm reaffirmed a “buy” rating and set a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday, September 18th. Cantor Fitzgerald raised their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a report on Friday. Finally, B. Riley upped their target price on Intuitive Machines from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, Intuitive Machines presently has a consensus rating of “Buy” and a consensus price target of $13.10.

Intuitive Machines Stock Up 21.4 %

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

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.09. The business had revenue of $41.41 million during the quarter, compared to the consensus estimate of $43.00 million. As a group, research analysts predict that Intuitive Machines will post 0.47 EPS for the current fiscal year.

Insider Activity

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 stock was sold at an average price of $5.58, for a total transaction of $57,328.92. Following the transaction, the chief financial officer now owns 117,500 shares in the company, valued at approximately $655,650. This represents a 8.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 1,007,928 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $8.31, for a total transaction of $8,375,881.68. Following the transaction, the director now owns 3,494,768 shares of the company’s stock, valued at $29,041,522.08. This represents a 22.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,763,571 shares of company stock valued at $38,671,383 in the last ninety days. Insiders own 73.68% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LUNR. Squarepoint Ops LLC acquired a new position in Intuitive Machines during the second quarter worth about $536,000. Vanguard Group Inc. lifted its stake 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 valued at $3,758,000 after purchasing an additional 429,531 shares during the last quarter. Wedbush Securities Inc. acquired a new position in shares of Intuitive Machines in the 2nd quarter worth approximately $35,000. XTX Topco Ltd acquired a new position in Intuitive Machines during the 2nd quarter worth about $164,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Intuitive Machines in the second quarter valued at approximately $272,000. 72.21% of the stock is owned by hedge funds and other institutional investors.

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.