Intuitive Machines Stock Is Falling Back To Earth: What's Going On?

Intuitive Machines Inc LUNR shares are trading lower Monday after the company said its lunar lander may have tipped over upon landing on the moon.

What Happened: Intuitive Machines’ moon lander Odysseus made history on Thursday when it touched down on the surface of the moon, making Intuitive Machines the first private company to land on the moon and bringing the U.S. back to the moon for the first time since 1972.

In a press conference following the landing, Intuitive Machines CEO Steve Altemus said the company believed Odysseus “caught a foot in the surface” of the moon during landing and tipped over.

Although the company still has plenty of operational capabilities, some of the data was unable to be accessed since some of the antennas were pointed in the wrong direction, Altemus said.

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

After being launched from SpaceX's Falcon 9 rocket in mid-February, the company provided mission updates along the way, which sent shares surging. Despite Monday’s pullback, Intuitive Machines stock is still up more than 210% over the last month.

Intuitive Machines is set to report fourth quarter financial results in the coming weeks although an official date has not been announced. 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.

See Also: Intuitive Machines, Marriott International And 2 Other Stocks Insiders Are Selling

LUNR Price Action: Intuitive Machines shares were down 27.1% at $7.01 at the time of publication, according to Benzinga Pro.

Photo: courtesy of Intuitive Machines.