Intuitive Machines Stock Is Moving Higher Monday: What's Going On?

Intuitive Machines Inc LUNR shares are trading higher on Monday. The company announced that it secured additional contracts from NASA’s Near Space Network for Direct-to-Earth services.

What Happened: Intuitive Machines announced Monday morning that it received two new contract awards from NASA’s Near Space Network for subcategory 1.2 and subcategory 1.3.

Subcategory 1.2 covers DTE Geostationary to Cislunar DTE Services, offering enhanced data transmission capabilities and autonomous operations. Subcategory 1.3 covers xCislunar DTE Services, addressing mission needs for highly elliptical orbits and deep space operations.

Both contracts are firm-fixed-price, indefinite-delivery/indefinite-quantity task orders designed to bolster NASA’s Lunar Exploration Ground Segment. 

“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. We believe these new awards complement our existing NSN contract and will expand our space communications and navigation service offerings,” said Steve Altemus, CEO of Intuitive Machines.

“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.”

See Also: SpaceX To Launch 2 More Private Astronaut Missions To ISS

The contract awards come after NASA awarded Intuitive Machines a Near Space Network contract for communication and navigation services related to subcategory 2.2 in September.

Project timelines for these contracts span from February 2025 to September 2029, with an additional five-year option period that could extend contracts through September 2034.

LUNR Price Action: Intuitive Machines shares were up 5.08% at $14.27 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Intuitive Machines.