U.S.-based space exploration company Intuitive Machines’ (LUNR) second lunar lander, Athena, is on the moon, but the landing didn’t go as planned. While Athena is successfully transmitting data back to Earth, it appears the spacecraft may not have landed in a fully upright position as intended. Notably, the Athena lander carries NASA technology and aims to collect moon soil samples to check for water or other useful resources that could be turned into fuel or oxygen.
Intuitive Machines aims to advance commercial lunar exploration by delivering scientific instruments and technology to the moon, partnering with NASA’s Artemis program.
Intuitive Machines Stock Plunges 20%
The challenges with the lunar lander mark a major setback for Intuitive Machines, which had previously sparked optimism about its potential in space exploration and technology. The landing uncertainty raises investor concerns about the mission’s success and its potential impact on the company’s future outlook.
As a result, LUNR stock plunged 20% on Thursday as investors awaited updates on the lunar lander. In after-hours trading, Intuitive Machines’ stock sank nearly 30% after CEO Steve Altemus stated that Athena didn’t achieve the correct orientation on the lunar surface.
Year-to-date, LUNR stock has fallen by 38%.
Intuitive Machines’ Moon Landing Faces Another Hiccup
Athena marks the company’s second attempt at landing on the moon. In February 2024, its Odysseus lander became the first commercial spacecraft to achieve a soft landing. However, the mission didn’t go as planned—Odysseus tipped over after touchdown, limiting its ability to complete some of its tasks.
As the company pushes forward with this mission, Altemus confirmed that Athena is intact, transmitting data, and generating power, though not sufficiently. As a result, Intuitive Machines is working to shut down certain components to conserve energy.
Is Intuitive Machines a Good Stock to Buy?
According to TipRanks, LUNR stock has received a Moderate Buy consensus rating, with 3 Buys, one Hold, and one Sell assigned in the last three months. The average share price target for Intuitive Machines is $18, suggesting a potential upside of 60% from the current level.
