Shares of Intuitive Machines Inc. surged 10.6% in Tuesday's session as the space-exploration company edges closer to its next mission to the moon.
Investment bank B. Riley initiated coverage of Intuitive Machines stock with a buy rating today.
Intuitive Machines landed a spacecraft on the moon earlier this year -- but it is as cheap today as before it succeeded. Redwire stock is the first "space SPAC" to achieve positive free cash flow.
Few industries are as dangerous as space exploration, but it is still worth looking for space stocks to buy. Certainly, SpaceX has made it seem simple, even awe-inspiring again.
Intuitive Machines, Inc. (LUNR) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
Intuitive Machines has strong delivery of its contracted mission this year and a strong backlog lined up. The company's financing needs are equally strong and contracts could result in losses. But it's building up a future economy on the moon that has both the backing of NASA and a strong network of partnerships in the industry.
Intuitive Machines' stock prices have dropped by a third since the successful landing of the Odysseus Lunar Lander. Q1 2024 revenues increased due to the success of the IM-1 mission and the IM-2 mission contract. LUNR is investing in lunar capabilities and has been awarded a $4 billion contract for lunar exploration.