Intuitive Machines Stock Shoots Higher On NASA Lunar Contract Award: What Investors Need To Know

Intuitive Machines Inc LUNR shares are trading higher in Thursday’s after-hours session after the company was awarded a NASA Lunar Contract Award.

What To Know: After the market close on Thursday, Intuitive Machines announced that it was awarded a $116.9 million contract with NASA to deliver six science and technology payloads to the Moon.

The contract aims to leverage Intuitive Machines’ lunar delivery, data transmission and autonomous operation capabilities to explore the Moon’s South Pole, targeted for sustained human operations.

“Over the last several years, we’ve witnessed NASA’s successful Artemis I mission and the campaign’s progress toward sustainably returning humans to the surface of the Moon, highlighting the importance of autonomous missions that advance humanity’s understanding of the Moon and the commercial services required to support the industry. Intuitive Machines looks forward to working closely with the NASA team to deliver mission success once again,” said Steve Altemus, CEO of Intuitive Machines.

Intuitive Machines noted that it’s currently in the final assembly phase of its second lunar mission and is scheduled to deliver the completed lander to the launch facility in late 2024. The company said it’s also continuing work on its third lunar mission as it prepares for systems integration and testing.

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Intuitive Machines shares surged earlier this year after the company's Moon lander Odysseus touched down on the surface of the Moon as part of the company's IM-1 mission, bringing the U.S. back to the Moon for the first time since 1972. 

It’s worth noting that Intuitive Machines shares have seen increased attention across various social platforms in recent weeks as traders kept a close watch on the stock in anticipation of potential contract announcements.

On the conference call following earnings earlier this month, Altemus noted that the company received "official information" from NASA that awards for the Near Space Network Services contract were anticipated in August and September.

Executives on the call also said the company recently submitted a letter to NASA expressing interest in commercializing the Volatiles Investigating Polar Exploration Rover (VIPER) mission rover system that was canceled in July.

LUNR Price Action: Intuitive Machines shares were up 17.01% in after-hours, trading at $5.64 at the time of publication Thursday, according to Benzinga Pro.

Photo: Courtesy of Intuitive Machines.