Intuitive Machines, AST SpaceMobile Shares Are Surging: What's Going On?

Shares of Intuitive Machines Inc. LUNR and AST SpaceMobile inc. ASTS are trading higher Wednesday, boosted by Rocket Lab Inc.’s RKLB strong earnings and recent contract wins. Both Intuitive Machines and AST SpaceMobile are set to report earnings on Thursday. Here’s what you need to know.

What Happened With RKLB: Rocket Lab reported revenue of $104.81 million, beating the consensus of $102.28 million, according to Benzinga Pro. The end-to-end space company reported a loss per share of 10 cents, versus the anticipated loss per share of 11 cents.

The company said it set a new annual launch record with 12 launches to date and noted that it anticipates strong fourth-quarter revenue, guiding for between $125 million and $135 million. CEO Peter Beck highlighted the company’s 55% year-over-year revenue growth and a $1.05 billion backlog. Rocket Lab shares were up about 35% at last check.

Rocket Lab also made a series of announcements in connection with its earnings release:

• A multi-launch agreement with a confidential commercial satellite constellation operator, using its new medium-lift rocket, Neutron.
• An $8 million U.S. Air Force contract to support the development of its reusable rocket engine, Archimedes.
• An upcoming Electron launch for Kinéis, scheduled for late November.

Related Link: Rocket Lab Stock Is Blasting Off Wednesday: What’s Going On?

LUNR and ASTS Earnings Preview: Intuitive Machines and AST SpaceMobile will both report earnings after the market close on Thursday.

Intuitive Machines is expected to report loss of 12 cents per share and $50.89 million in revenue, while AST SpaceMobile is forecasted to report a loss of 20 cents per share and revenue of $24.13 million, according to estimates from Benzinga Pro.

Both stocks are riding the momentum in the space sector that started when Donald Trump was declared the winner of the 2024 presidential election.

The space industry could benefit under Trump given SpaceX CEO Elon Musk's close ties to the president-elect. Reports from last week suggested that we could see changes to the Federal Aviation Administration's commercial space office, which oversees private rocket launches.

Price Action: Intuitive Machines shares were up 14.7% at $11.95 and AST SpaceMobile shares were up 18.3% at $28.70 at the time of writing, according to Benzinga Pro.

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