Intuitive Machines, a lunar-focused company, experienced a significant boost in its stock price after being awarded a major contract by NASA to build moon data satellites. The contract, which has a maximum total value of $4.82 billion, will see Intuitive Machines construct and deploy a constellation of lunar satellites to provide communications and navigation services for NASA’s Artemis program. Intuitive Machines’ CEO, Steve Altemus, described the contract as an “inflection point” for the company’s leadership in space communications and navigation.
This contract marks yet another success for Intuitive Machines, as the company has been steadily accumulating NASA contracts throughout the year. In February, the company made history as the first U.S. company to successfully soft-land a cargo mission on the moon’s surface. Since then, they have been awarded contracts under NASA’s $4.6 billion crew lunar rover contract and secured their fourth cargo delivery contract with a $117 million award just last month.
The recent contract for lunar relay systems, known as the Near Space Network (NSN), is seen as a significant catalyst for Intuitive Machines’ future prospects. Analysts from Cantor Fitzgerald and Benchmark have expressed optimism about the company’s outlook, with both firms giving the stock a buy-equivalent rating and setting a $10 price target. Cantor Fitzgerald analyst Andres Sheppard called the NSN contract a boon for Intuitive Machines and a validation of the company’s ability to continue winning contracts.
The stock price of Intuitive Machines has more than doubled this year, reflecting the growing confidence in the company’s capabilities. The latest award from NASA further solidifies Intuitive Machines’ position as an elite player in the lunar infrastructure industry. Josh Sullivan, an analyst from Benchmark, believes that NASA’s decision to award the contract to Intuitive Machines demonstrates their recognition of the company’s experience and expertise.
Looking ahead, Intuitive Machines is preparing to launch its next cargo mission to the moon, IM-2, in the first quarter. Analysts anticipate that the company’s first NSN lunar satellite will be launched as part of the IM-3 mission, which is scheduled for late 2025. As Intuitive Machines continues to secure high-profile contracts and expand its presence in the space industry, the company is well-positioned to capitalize on the growing demand for lunar exploration and infrastructure development.
