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Published: January 10, 2024 at 5:32 PM ET
Shares of space exploration company Intuitive Machines rose 23% on Wednesday ahead of the launch of the company’s commercial lunar lander, expected as early as next month.
The company’s stock closed at $2.83, its highest since Dec. 15, 2023, when it closed at $2.80, according to Dow Jones Market Data. Intuitive stock also posted its biggest single-day increase since April 26, 2023, when it rose 32.28%.
Intuitively…
Shares of space exploration company Intuitive Machines rose 23% on Wednesday ahead of the launch of the company’s commercial lunar lander, expected as early as next month.
The company’s stock closed at $2.83, its highest since Dec. 15, 2023, when it closed at $2.80, according to Dow Jones Market Data. Intuitive stock also posted its biggest single-day increase since April 26, 2023, when it rose 32.28%.
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Rival Astrobotic Technologies Inc.’s commercial lunar lander is in the spotlight after it ran into trouble just hours into its first mission on Monday. Astrobotic announced Tuesday that its moon landing mission will fail due to a propellant leak. The Peregrine lander was scheduled to arrive on the moon’s surface on February 23, where it would conduct a series of NASA experiments.
Related: “There is no possibility of soft landing on the moon,” says private lunar lander maker
“As a partner in advancing lunar exploration, Intuitive Machines understands and shares our collective disappointment with the unforeseen challenges,” Intuitive Machines told MarketWatch on Tuesday. “Despite careful planning and rigorous testing, the rigorous requirements of space exploration can introduce unforeseen factors that affect mission outcomes. It is a testament to the resilience of the space community that we continue to push the boundaries of understanding while accepting the inherent risks in our quest to open up.”
Intuitive Machines plans to send its Nova-C lunar lander to the moon aboard SpaceX’s Falcon 9 rocket as early as next month. The company said in a recent update that it is targeting a multi-day launch window for the IM-1 mission to begin by mid-February, given the monthly lunar blackout period. Nova-C will land near the moon’s south pole, where suitable lighting conditions are only available for a few days each month.
Like Astrobotic’s Peregrine, Intuitive’s Nova-C is part of NASA’s Commercial Lunar Payload Services (CLPS) initiative, which brings science and technology to the lunar surface. On the IM-1 mission, Nova-C will carry five NASA payloads and one commercial payload. Its scientific objectives include studying plume-surface interactions, radio astronomy, and space weather interactions with the lunar surface, NASA said. The lander will also be used to demonstrate precision landing technology and communications and navigation node capabilities.
Related:Here are the space stocks to watch in 2024
Intuitive Machines said the lunar module is scheduled for three missions to the moon, and each mission will involve minor changes to the vehicle.
The civilian lunar lander is an important reconnaissance mission ahead of the return of American astronauts to the moon’s surface as part of NASA’s Artemis program. NASA announced Tuesday that it is targeting the first manned Artemis mission to orbit the moon in September 2025, and the first manned Artemis mission to land astronauts near the moon’s south pole in September 2026. The mission will mark humanity’s return to the moon, more than 50 years after the last astronaut to reach the moon’s surface during the Apollo 17 mission. Previously, NASA had planned to begin the Artemis mission to orbit the moon at the end of 2024, and to land astronauts on the moon in 2025.
Intuitive Machines stock has declined 71.8% over the past 52 weeks compared to the S&P 500 Index.
SPX increased by 20.5%.
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