Benchmark Reaffirms Buy Rating for Intuitive Machines (NASDAQ:LUNR)

Intuitive Machines (NASDAQ:LUNR)‘s stock had its “buy” rating restated by equities research analysts at Benchmark in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $16.00 target price on the stock. Benchmark’s target price would indicate a potential upside of 76.66% from the company’s current price.

Several other equities analysts have also commented on the company. Bank of America began coverage on Intuitive Machines in a report on Wednesday, February 5th. They issued an “underperform” rating and a $16.00 target price on the stock. Canaccord Genuity Group cut their target price on Intuitive Machines from $26.00 to $22.00 and set a “buy” rating on the stock in a research report on Friday, March 7th. Deutsche Bank Aktiengesellschaft assumed coverage on Intuitive Machines in a report on Tuesday, February 25th. They issued a “hold” rating and a $18.00 price target for the company. Roth Capital set a $20.00 price objective on shares of Intuitive Machines in a report on Friday, March 7th. Finally, Roth Mkm lowered their target price on shares of Intuitive Machines from $20.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.38.

Intuitive Machines Price Performance

LUNR opened at $9.06 on Tuesday. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of -3.08 and a beta of 1.01. The business has a fifty day moving average price of $16.06 and a 200 day moving average price of $12.93. Intuitive Machines has a 12 month low of $3.15 and a 12 month high of $24.95.

Insider Buying and Selling at Intuitive Machines

In other news, insider Steven Vontur sold 9,266 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $22.50, for a total value of $208,485.00. Following the completion of the sale, the insider now owns 98,656 shares in the company, valued at approximately $2,219,760. This trade represents a 8.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kamal Seyed Ghaffarian sold 377,973 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $18.35, for a total transaction of $6,935,804.55. Following the completion of the sale, the director now owns 3,494,768 shares of the company’s stock, valued at approximately $64,128,992.80. The trade was a 9.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 392,713 shares of company stock worth $7,250,066. 73.68% of the stock is owned by company insiders.

Hedge Funds Weigh In On Intuitive Machines

Several hedge funds and other institutional investors have recently bought and sold shares of LUNR. Charles Schwab Investment Management Inc. raised its position in Intuitive Machines by 44.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 103,791 shares of the company’s stock worth $836,000 after acquiring an additional 32,015 shares during the last quarter. Penserra Capital Management LLC raised its position in shares of Intuitive Machines by 16.5% during the 3rd quarter. Penserra Capital Management LLC now owns 147,857 shares of the company’s stock worth $1,190,000 after purchasing an additional 20,916 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Intuitive Machines in the 3rd quarter valued at approximately $85,000. MetLife Investment Management LLC acquired a new stake in Intuitive Machines during the 3rd quarter valued at $138,000. Finally, FORA Capital LLC purchased a new position in Intuitive Machines during the third quarter worth $458,000. 72.21% of the stock is owned by institutional investors and hedge funds.

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.