Intuitive Machines Stock Is Falling Thursday: What's Going On?

Intuitive Machines Inc LUNR shares are trading lower. The company provided an update on its IM-2 mission Thursday morning. Here’s a look at what’s going on.

What To Know: Intuitive Machines announced Thursday that its IM-2 mission Nova-C class lunar lander “Athena” launched on SpaceX’s Falcon 9 rocket and successfully commissioned in space. The company noted that the launch marks the first time humanity has had three lunar landers en route to the moon at the same time.

“Athena joining a historic wave of lunar landers on their way to the Moon is an extraordinary moment,” said Steve Altemus, CEO of Intuitive Machines.

“While the most vital part of this mission lies ahead, we believe this is a signal that lunar services are rapidly advancing alongside civil and commercial intent to establish a foothold on the Moon to reach further into the Solar System.”

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Intuitive Machines said the lander established stable altitude, solar charging and radio communications after launch. It’s currently in “excellent” health and is preparing for a series of planned main engine firings ahead of lunar orbit insertion, expected on March 3. The company anticipates a lunar landing opportunity on March 6.

The Intuitive Machines IM-2 mission is the company's second under NASA's Commercial Lunar Payload Services initiative, which aims to lay the foundation for future human missions and a long-term human presence on the moon.

Intuitive Machines made history last year when its moon lander “Odysseus” landed on the moon’s surface. The mission marked the first time the U.S. had been on the moon since 1972.

LUNR Price Action: Intuitive Machines shares are down approximately 15% year-to-date. The stock was down 7.64% at $15.23 at the time of publication Thursday, according to Benzinga Pro.

Photo: courtesy of Intuitive Machines.