What's Going On With Intuitive Machines Stock Tuesday?

Intuitive Machines, Inc. LUNR shares ripped higher on Tuesday. The stock appears to have traded up on continued momentum after the company announced Monday that it secured additional contracts from NASA’s Near Space Network for Direct-To-Earth (DTE) services.

The Details: Intuitive Machines received two new contract awards from NASA's Near Space Network under subcategories 1.2 and 1.3 on Monday.

Subcategory 1.2 covers DTE Geostationary to Cislunar DTE Services, including enhanced data transmission capabilities and autonomous operations. Subcategory 1.3 is Cislunar DTE Services, which addresses mission needs for highly elliptical orbits and deep space operations.

The contracts are firm-fixed-price, indefinite-delivery/indefinite-quantity task orders designed to bolster NASA’s Lunar Exploration Ground Segment. The project timelines for the contracts span February 2025 to September 2029, with an optional five-year extension that could extend the contracts through September 2034.

“We are privileged to help NASA deliver essential data and transmission services that support missions navigating the critical pathways between Earth, the Moon, and beyond,” said Intuitive Machines CEO Steve Altemus.

“We believe these new awards complement our existing NSN contract and will expand our space communications and navigation service offerings. They position us to capitalize on the $4.82 billion maximum potential value of the NSN contract, while supporting NASA’s Artemis campaign and commercial endeavors to expand the lunar economy.”

Intuitive Machines made history earlier this year when its moon lander Odysseus landed on the surface of the moon. The company is targeting launch of its second lunar mission in February 2025.

See Also: Breaking Down Navient: 6 Analysts Share Their Views

LUNR Price Action: Intuitive Machines shares closed Tuesday up 14.2% at $16.65, according to data from Benzinga Pro.

Image: courtesy of Intuitive Machines.