B. Riley Raises Intuitive Machines (NASDAQ:LUNR) Price Target to $12.00

Intuitive Machines (NASDAQ:LUNR) had its target price increased by B. Riley from $8.00 to $12.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

LUNR has been the subject of several other reports. Benchmark reaffirmed a buy rating and issued a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. Cantor Fitzgerald reaffirmed an overweight rating and issued a $10.00 price target on shares of Intuitive Machines in a report on Wednesday, September 18th. Finally, Roth Mkm reiterated 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.com, the company presently has an average rating of Buy and a consensus price target of $10.60.

Intuitive Machines Stock Performance

LUNR stock opened at $9.15 on Thursday. The stock has a fifty day moving average of $4.81 and a 200-day moving average of $4.93. Intuitive Machines has a fifty-two week low of $2.09 and a fifty-two week high of $13.25. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 22.32 and a beta of 0.26.

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

Insiders Place Their Bets

In other news, Director Michael Blitzer sold 662,673 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $8.19, for a total transaction of $5,427,291.87. Following the completion of the transaction, the director now directly owns 1,062,865 shares in the company, valued at approximately $8,704,864.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Intuitive Machines news, Director Michael Blitzer sold 662,673 shares of the firm’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $8.19, for a total value of $5,427,291.87. Following the sale, the director now owns 1,062,865 shares of the company’s stock, valued at approximately $8,704,864.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Timothy Price Crain II sold 50,000 shares of Intuitive Machines stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $3.36, for a total value of $168,000.00. Following the sale, the senior vice president now owns 362,810 shares of the company’s stock, valued at approximately $1,219,041.60. The disclosure for this sale can be found here. Insiders have sold 3,039,827 shares of company stock worth $20,042,765 in the last three months. 73.68% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Intuitive Machines

A number of hedge funds and other institutional investors have recently bought and sold shares of LUNR. Wedbush Securities Inc. purchased a new stake in shares of Intuitive Machines during the 2nd quarter valued at $35,000. Sender Co & Partners Inc. bought a new position in Intuitive Machines in the second quarter valued at $56,000. Baltimore Washington Financial Advisors Inc. purchased a new stake in Intuitive Machines during the first quarter valued at about $67,000. Rhumbline Advisers bought a new stake in Intuitive Machines during the second quarter worth about $119,000. Finally, Sanders Morris Harris LLC purchased a new position in shares of Intuitive Machines in the 1st quarter worth about $119,000. Hedge funds and other 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.