Cantor Fitzgerald Issues Positive Forecast for Intuitive Machines (NASDAQ:LUNR) Stock Price

Key Points

• Cantor Fitzgerald raised its price target on Intuitive Machines (LUNR) from $16 to $26 and maintained an overweight rating, implying roughly a 32.6% upside from the prior close.
• Shares recently traded at $19.61 with a market cap of $3.53 billion, and analysts' consensus is a "Moderate Buy" with an average target of $18.80.
• There has been meaningful insider selling—CEO Stephen Altemus sold 1.96 million shares (a 65.61% reduction of his position) and insiders sold about 3.5 million shares (~$59.5M) in the last 90 days, though insiders still own ~39.8% of the company.

Intuitive Machines (NASDAQ:LUNR - Get Free Report) had its price objective boosted by analysts at Cantor Fitzgerald from $16.00 to $26.00 in a report issued on Friday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Cantor Fitzgerald's price objective would suggest a potential upside of 32.60% from the company's previous close.

LUNR has been the topic of a number of other reports. Canaccord Genuity Group raised their price target on shares of Intuitive Machines from $15.50 to $22.50 and gave the company a "buy" rating in a research note on Monday, January 12th. Weiss Ratings restated a "sell (d-)" rating on shares of Intuitive Machines in a research report on Thursday, January 22nd. Stifel Nicolaus set a $20.00 target price on shares of Intuitive Machines and gave the stock a "hold" rating in a research note on Friday, January 9th. B. Riley Financial reiterated a "buy" rating on shares of Intuitive Machines in a research note on Tuesday, February 17th. Finally, Zacks Research upgraded Intuitive Machines from a "strong sell" rating to a "hold" rating in a research report on Thursday, November 20th. Nine research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $18.80.

Intuitive Machines Stock Up 3.7%

Shares of LUNR stock traded up $0.70 during trading hours on Friday, reaching $19.61. The company's stock had a trading volume of 6,015,875 shares, compared to its average volume of 10,743,444. Intuitive Machines has a fifty-two week low of $6.14 and a fifty-two week high of $23.32. The firm's 50 day simple moving average is $18.41 and its 200-day simple moving average is $13.89. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of -8.05 and a beta of 1.40.

Insider Activity

In other news, CFO Peter Mcgrath sold 25,541 shares of the firm's stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $17.44, for a total transaction of $445,435.04. Following the completion of the transaction, the chief financial officer owned 425,800 shares of the company's stock, valued at approximately $7,425,952. This trade represents a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Stephen J. Altemus sold 1,958,593 shares of the business's stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $15.77, for a total transaction of $30,887,011.61. Following the completion of the sale, the chief executive officer directly owned 1,026,402 shares in the company, valued at approximately $16,186,359.54. This represents a 65.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 3,498,506 shares of company stock valued at $59,486,262. Insiders own 39.75% of the company's stock.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors and hedge funds have recently made changes to their positions in LUNR. International Assets Investment Management LLC bought a new position in Intuitive Machines during the fourth quarter worth $28,000. GAMMA Investing LLC increased its stake in shares of Intuitive Machines by 41.5% in the 4th quarter. GAMMA Investing LLC now owns 2,661 shares of the company's stock valued at $43,000 after acquiring an additional 781 shares in the last quarter. Larson Financial Group LLC grew its holdings in Intuitive Machines by 63.2% in the fourth quarter. Larson Financial Group LLC now owns 2,623 shares of the company's stock worth $43,000 after purchasing an additional 1,016 shares during the period. CWM LLC raised its holdings in shares of Intuitive Machines by 406.4% during the fourth quarter. CWM LLC now owns 2,912 shares of the company's stock valued at $47,000 after purchasing an additional 2,337 shares during the period. Finally, Sunbelt Securities Inc. raised its stake in Intuitive Machines by 144.8% during the 4th quarter. Sunbelt Securities Inc. now owns 2,938 shares of the company's stock worth $48,000 after buying an additional 1,738 shares during the period. Institutional investors and hedge funds own 72.21% of the company's stock.

Intuitive Machines Company Profile

Intuitive Machines is a Houston, Texas–based aerospace company specializing in commercial lunar exploration and services. The firm develops end-to-end solutions for robotic missions to the Moon, providing spacecraft design, mission management, navigation, communications, and data services under NASA's Commercial Lunar Payload Services (CLPS) program.

Founded in 2013 by aerospace engineers Steve Altemus, Tim Crain and Kris Kimel, Intuitive Machines has grown from a small startup into one of the leading private entities pursuing lunar surface deliveries.

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