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

Intuitive Machines (NASDAQ:LUNR) had its target price raised by research analysts at Benchmark from $10.00 to $16.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Benchmark’s price objective would indicate a potential upside of 28.82% from the stock’s current price.

Several other equities research analysts have also weighed in on the company. Roth Mkm reissued a “buy” rating and issued a $10.00 price objective on shares of Intuitive Machines in a report on Wednesday, September 18th. B. Riley increased their target price on shares of Intuitive Machines from $8.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Cantor Fitzgerald boosted their price target on shares of Intuitive Machines from $10.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $13.10.

Intuitive Machines Trading Up 21.4 %

Shares of NASDAQ LUNR opened at $12.42 on Friday. The stock has a fifty day simple moving average of $8.02 and a two-hundred day simple moving average of $5.71. Intuitive Machines has a 1-year low of $2.09 and a 1-year high of $14.90. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -4.22 and a beta of 0.35.

Insider Buying and Selling at Intuitive Machines

In related news, Director Kamal Seyed Ghaffarian sold 570,705 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $6.08, for a total value of $3,469,886.40. Following the sale, the director now owns 3,551,606 shares in the company, valued at approximately $21,593,764.48. This trade represents a 13.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Timothy Price Crain II sold 400,000 shares of Intuitive Machines stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $12.10, for a total value of $4,840,000.00. Following the sale, the senior vice president now directly owns 362,810 shares of the company’s stock, valued at $4,390,001. This represents a 52.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,763,571 shares of company stock valued at $38,671,383 in the last quarter. 73.68% of the stock is currently owned by corporate insiders.

Institutional Trading of Intuitive Machines

Institutional investors and hedge funds have recently modified their holdings of the business. Squarepoint Ops LLC purchased a new position in shares of Intuitive Machines during the second quarter worth about $536,000. Vanguard Group Inc. grew its stake in Intuitive Machines by 250.0% in the 1st quarter. Vanguard Group Inc. now owns 601,354 shares of the company’s stock worth $3,758,000 after buying an additional 429,531 shares in the last quarter. Wedbush Securities Inc. bought a new position in shares of Intuitive Machines in the 2nd quarter worth $35,000. XTX Topco Ltd purchased a new stake in shares of Intuitive Machines during the 2nd quarter valued at $164,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Intuitive Machines during the 2nd quarter worth $272,000. 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.