Intuitive Machines (LUNR) Rallies 9% on NASA Award

Intuitive Machines Inc. (NASDAQ:LUNR) is one of the 10 Stocks Outperforming Wall Street with Outsized Gains.

Intuitive Machines grew its share prices by 9.05 percent on Wednesday to finish at $20.24 apiece, as investors continued to load up on shares after an investment firm reiterated its bullish outlook and the space firm’s bagging of a contract from the National Aeronautics and Space Administration (NASA).

In a market note, Cantor Fitzgerald reiterated its “overweight” rating on Intuitive Machines Inc. (NASDAQ:LUNR) alongside a price target of $26. The figure marked a 28 percent upside potential from its latest closing price.

The coverage followed the space company’s bagging of a $180.4 million contract from NASA for the delivery of seven payloads to the lunar surface, and would support increased understanding of the chemical composition and structure of regolith, as well as the radiation environment in and around the South Pole region.

The said award marks Intuitive Machines Inc.’s (NASDAQ:LUNR) fifth Commercial Lunar Payload Services contract with NASA, which has delivered payloads to the Moon twice with their IM-1 and IM-2 missions.

“NASA continues to progress lunar science and exploration by enabling commercial lunar landings,” said Joel Kearns, deputy associate administrator for exploration, Science Mission Directorate, at NASA Headquarters in Washington

“These science and technology investigations aim to support long-term sustainability and contribute to a deeper understanding of the lunar surface, test technologies, and prepare for future human missions at the South Pole,” he added.

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