Intuitive Machines (NASDAQ:LUNR) Stock Rating Upgraded by Zacks Research

Intuitive Machines (NASDAQ:LUNR) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Other equities analysts have also issued research reports about the company. Canaccord Genuity Group decreased their target price on Intuitive Machines from $18.50 to $15.50 and set a “buy” rating on the stock in a research note on Friday, November 7th. Roth Capital reiterated a “buy” rating on shares of Intuitive Machines in a research note on Tuesday, November 4th. Cantor Fitzgerald reissued an “overweight” rating and issued a $16.00 price objective on shares of Intuitive Machines in a research note on Monday, November 10th. Deutsche Bank Aktiengesellschaft set a $18.00 price objective on shares of Intuitive Machines and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Bank of America increased their target price on shares of Intuitive Machines from $8.50 to $9.50 and gave the stock an “underperform” rating in a report on Wednesday. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Intuitive Machines has an average rating of “Moderate Buy” and a consensus target price of $15.50.

Intuitive Machines Stock Up 7.1%

NASDAQ:LUNR traded up $0.57 during trading hours on Thursday, reaching $8.62. 8,796,743 shares of the stock were exchanged, compared to its average volume of 6,437,260. Intuitive Machines has a twelve month low of $6.14 and a twelve month high of $24.95. The business has a 50-day moving average of $10.80 and a two-hundred day moving average of $10.61. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -2.66 and a beta of 1.42.

Insider Transactions at Intuitive Machines

In other news, Director Michael Blitzer purchased 141,080 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was bought at an average price of $9.27 per share, for a total transaction of $1,307,811.60. Following the completion of the purchase, the director directly owned 1,831,248 shares of the company’s stock, valued at $16,975,668.96. The trade was a 8.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 39.75% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Intuitive Machines

Several institutional investors have recently modified their holdings of the company. Golden State Wealth Management LLC grew its stake in shares of Intuitive Machines by 180.0% during the second quarter. Golden State Wealth Management LLC now owns 2,800 shares of the company’s stock worth $30,000 after purchasing an additional 1,800 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Intuitive Machines by 35.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 4,292 shares of the company’s stock worth $47,000 after acquiring an additional 1,127 shares in the last quarter. Quarry LP boosted its position in shares of Intuitive Machines by 151.4% during the 3rd quarter. Quarry LP now owns 6,457 shares of the company’s stock worth $68,000 after acquiring an additional 3,889 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Intuitive Machines in the 3rd quarter valued at about $94,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Intuitive Machines during the 3rd quarter worth about $109,000. 72.21% of the stock is owned by hedge funds and other 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.