Why Intuitive Machines Stock Is Soaring To The Moon Friday

Intuitive Machines, Inc. LUNR shares are trading higher Friday after the company was awarded a $116.9 million NASA contract to deliver six science and technology payloads to the Moon.

The Details:

The contract is Intuitive Machines’ fourth contract award as part of NASA’s Commercial Lunar Payload Services (CLPS) initiative and will utilize the company's lunar delivery, data transmission, and autonomous operation capabilities to explore the region targeted for sustained human operations. 

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“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,” said Intuitive Machines CEO Steve Altemus.

Intuitive Machine said it is 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, while also working on its third lunar mission and is preparing for systems integration and testing.

Is LUNR A Good Stock To Buy?

Wall Street analysts view Intuitive Machines on the whole as an Outperform, given the history of coverage over the past three months. Andres Sheppard from Cantor Fitzgerald in Intuitive Machines is the most optimistic.

But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, Intuitive Machines fell 4.74%, which indicates that opinion soured on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which rose 130.13% over the past year.

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LUNR Price Action: According to Benzinga Pro, Intuitive Machines shares are up 22% at $5.88 at the time of publication Friday.

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Image: Courtesy of Intuitive Machines, Inc.