Intuitive Machines Stock Is Blasting Off: What's Going On?

Intuitive Machines Inc LUNR shares are trading higher Tuesday, adding to gains of more than 90% over the last five trading sessions. Here’s a look at what’s going on.

What To Know: Intuitive Machines stock has been seeing increased attention as its IM-1 mission continues to progress. Last week, the company announced its Nova-C class lunar lander launched on SpaceX’s Falcon 9 rocket and was successfully enroute to the Moon.

The company has been providing updates along the way. On Friday, Intuitive Machines announced that the IM-1 mission vehicle was in “excellent health” and remained on schedule for a lunar landing this week.

Over the weekend, the company said it successfully transmitted its first IM-1 mission images to Earth. In its latest update, Intuitive Machines said the mission “triumphed over numerous challenges” and remains on track to land on the Moon on Thursday at approximately 5:49 p.m. ET.

The Intuitive Machines IM-1 mission is the company’s first attempted lunar landing as part of NASA’s Commercial Lunar Payload Services initiative.

Intuitive Machines stock has been trending across social platforms over the last week. Retail traders appear to be highlighting the low float and high short interest in the name. Intuitive Machines has a total float of 14.481 million shares and 11.98% of the float is currently sold short, per Benzinga Pro.

The stock was among the top trending tickers on Stocktwits at last check and has been seeing increased mentions on Reddit’s r/wallstreetbets over the last 24 hours.

Intuitive Machines is set to report fourth quarter financial results in the coming weeks although an official date has not been set. Analysts currently expect the company to report a loss of 33 cents per share and revenue of $18.8 million, according to estimates from Benzinga Pro.

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LUNR Price Action: Intuitive Machines shares were up 54.88% at $11.33 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Intuitive Machines.