Intuitive Machines Stock Surges On $2.5M NASA Award: Retail Enthusiasm Flies High

The study contract focuses on advancing lunar logistics handling and offloading, as well as surface cargo and mobility.

Intuitive Machines Inc (LUNR) shares surged 9% on Friday after the company announced that NASA awarded a $2.5 million study contract under the agency’s Next Space Technologies for Exploration Partnership (NextSTEP) Appendix R.

The study contract focuses on advancing lunar logistics handling and offloading, as well as surface cargo and mobility.

The space exploration company highlighted that the NextSTEP Appendix R study contract is intended to advance learning in managing everyday challenges in the lunar environment identified by NASA’s Moon to Mars architecture. The contract has a one-year performance period, expected to begin in the coming months.

Intuitive Machines said it intends to use the approximately $2.5 million award to focus on technologies related to the transportation of lunar payloads using the company’s heavy-cargo-class lunar lander, which is currently in development.

Last month, the firm secured additional contracts from NASA’s Near Space Network (NSN) for Direct-to-Earth (DTE) services.

Intuitive said both contracts were firm-fixed-price, indefinite-delivery/indefinite-quantity task orders designed to bolster NASA’s Lunar Exploration Ground Segment.

Meanwhile, on Stocktwits, retail sentiment jumped into the ‘extremely bullish’ territory (79/100) from ‘bullish’ a day ago. The move was accompanied by ‘high’ message volume.

Retail chatter on Stocktwits, however, indicated a mixed opinion on the stock.

Earlier this month, Canaccord raised the firm's price target on Intuitive Machines to $26 from $17.50 while keeping a ‘Buy’ rating on the shares.

LUNR shares have gained over 25% year-to-date and have risen over 815% over the past year.

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