Cantor Fitzgerald Reaffirms Overweight Rating for Intuitive Machines (NASDAQ:LUNR)

Cantor Fitzgerald reissued their overweight rating on shares of Intuitive Machines (NASDAQ:LUNR) in a research note released on Wednesday morning, Benzinga reports. The firm currently has a $10.00 target price on the stock.

A number of other analysts also recently issued reports on LUNR. B. Riley initiated coverage on shares of Intuitive Machines in a report on Friday, June 28th. They set a buy rating and a $8.00 price target on the stock. Benchmark restated a buy rating and issued a $10.00 target price on shares of Intuitive Machines in a report on Wednesday. Finally, Roth Mkm reiterated a buy rating and set a $10.00 target price on shares of Intuitive Machines in a research note on Wednesday. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of Buy and a consensus target price of $10.60.

Intuitive Machines Trading Down 1.4 %

LUNR stock opened at $9.15 on Wednesday. The stock’s 50 day simple moving average is $4.81 and its 200 day simple moving average is $4.93. Intuitive Machines has a 12-month low of $2.09 and a 12-month high of $13.25. The stock has a market capitalization of $1.14 billion, a PE ratio of 22.32 and a beta of 0.26.

Intuitive Machines (NASDAQ:LUNR) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating 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. On average, research analysts predict that Intuitive Machines will post 0.47 earnings per share for the current year.

Insider Activity at Intuitive Machines

In other news, SVP Timothy Price Crain II sold 50,000 shares of Intuitive Machines stock in a transaction on Monday, July 1st. The shares were sold at an average price of $3.36, for a total transaction of $168,000.00. Following the transaction, the senior vice president now owns 362,810 shares in the company, valued at approximately $1,219,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Stephen J. Altemus sold 203,018 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $4.53, for a total transaction of $919,671.54. Following the completion of the transaction, the chief executive officer now directly owns 910,919 shares in the company, valued at approximately $4,126,463.07. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Timothy Price Crain II sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $3.36, for a total transaction of $168,000.00. Following the sale, the senior vice president now owns 362,810 shares in the company, valued at approximately $1,219,041.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,039,827 shares of company stock worth $20,042,765. 73.68% of the stock is owned by company insiders.

Institutional Trading of Intuitive Machines

Institutional investors and hedge funds have recently modified their holdings of the company. Wedbush Securities Inc. purchased a new stake in Intuitive Machines in the 2nd quarter worth $35,000. Sender Co & Partners Inc. purchased a new stake in shares of Intuitive Machines during the second quarter worth about $56,000. Baltimore Washington Financial Advisors Inc. bought a new stake in Intuitive Machines during the 1st quarter valued at approximately $67,000. Rhumbline Advisers bought a new stake in Intuitive Machines during the 2nd quarter valued at approximately $119,000. Finally, Sanders Morris Harris LLC purchased a new position in Intuitive Machines in the 1st quarter worth approximately $119,000. 72.21% of the stock is currently owned by institutional investors.

About Intuitive Machines

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.