Intuitive Machines (NASDAQ:LUNR) Research Coverage Started at Bank of America

Bank of America initiated coverage on shares of Intuitive Machines (NASDAQ:LUNR) in a research report released on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an underperform rating and a $16.00 price objective on the stock.

A number of other equities research analysts have also recently commented on LUNR. Canaccord Genuity Group increased their target price on shares of Intuitive Machines from $17.50 to $26.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. Benchmark increased their target price on shares of Intuitive Machines from $10.00 to $16.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Finally, Cantor Fitzgerald raised their price objective on shares of Intuitive Machines from $10.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.83.

Intuitive Machines Stock Down 5.1 %

Shares of NASDAQ LUNR opened at $18.40 on Wednesday. The firm has a 50-day simple moving average of $17.53 and a 200-day simple moving average of $10.79. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of -6.26 and a beta of 0.92. Intuitive Machines has a 52 week low of $3.15 and a 52 week high of $24.95.

Insiders Place Their Bets

In other news, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $15.04, for a total value of $5,684,713.92. Following the completion of the transaction, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $52,561,310.72. This trade represents a 9.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Stephen J. Altemus sold 61,432 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $11.00, for a total transaction of $675,752.00. Following the completion of the transaction, the chief executive officer now directly owns 910,919 shares of the company’s stock, valued at approximately $10,020,109. The trade was a 6.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,367,104 shares of company stock valued at $19,912,186 over the last 90 days. 73.68% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in LUNR. Jones Financial Companies Lllp boosted its stake in shares of Intuitive Machines by 751.3% in the fourth quarter. Jones Financial Companies Lllp now owns 3,831 shares of the company’s stock valued at $70,000 after purchasing an additional 3,381 shares during the period. Waldron Private Wealth LLC purchased a new position in shares of Intuitive Machines in the third quarter valued at approximately $83,000. The Manufacturers Life Insurance Company purchased a new position in shares of Intuitive Machines in the third quarter valued at approximately $85,000. Steward Partners Investment Advisory LLC lifted its stake in Intuitive Machines by 201.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,937 shares of the company’s stock worth $90,000 after acquiring an additional 3,300 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Intuitive Machines in the third quarter worth approximately $93,000. 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.