The stock of Intuitive Machines (LUNR) is down 25% on reports that the space exploration company experienced difficulties with a recent moon landing.
Specifically, there are media reports that Intuitive Machines’ Athena spacecraft had trouble landing near the moon’s south pole. The spaceship touched down on the lunar surface, but NASA’s broadcast of the landing ended with no clear information about the current status of the craft and whether it is upright and its systems operational.
Intuitive CEO Steve Altemus said at a press conference that he doesn’t believe the Athena spacecraft is upright. “I think we can all agree … that landing on the moon is extremely hard, and Intuitive Machines was aiming to land in a place that humanity has not been before,” said Nicola Fox, NASA’s associate director at the Science Missions Directorate at the joint press conference.
Bad for Shareholders
In a positive development, NASA says that the Athena spacecraft is returning some data back from the moon’s surface following the landing. Athena is the company’s second landing on the moon’s surface. The previous Odysseus lander touched down on the moon in February 2024.
NASA called last year’s Odysseus mission a “success.” It was the first time the U.S. had landed on the moon in 50-plus years. However, the Odysseus spacecraft also tipped over upon landing on the moon. Both landings were part of NASA’s Commercial Lunar Payload Services program, which aims to have NASA contract for payload deliveries to the lunar surface.
Intuitive Machines is seen as being at the forefront of the commercial space industry. LUNR stock has risen 62% over the last 12 months.
Is LUNR Stock a Buy?
The stock of Intuitive Machines has a consensus Moderate Buy rating among six Wall Street analysts. That rating is based on four Buy, one Hold, and one sell recommendations issued in the last three months. The average LUNR price target of $17.67 implies 100.80% upside from current levels.
