LUNR Stock Hits $45 on Rumours Before Diving to $30s on NASA Award News

Quick overview

Intuitive Machines delivered strong operational momentum and bullish contract wins, but a major NASA contract disappointment triggered a sharp reversal in the stock.

Intuitive Machines Surges Before Sudden Reversal

Shares of Intuitive Machines surged more than 17% during the early U.S. session, briefly climbing above $45 as investors reacted positively to the company’s accelerating lunar mission progress and expanding contract pipeline.

However, sentiment quickly reversed after NASA announced that its highly anticipated Lunar Terrain Vehicle (LTV) awards were granted to Astrolab and Lunar Outpost, with Blue Origin selected to handle vehicle delivery. Intuitive Machines was not included in the program, triggering heavy selling pressure that pushed the stock back toward the low-$30 range during the same trading session.

The violent intraday reversal highlighted how sensitive the stock remains to NASA contract developments and long-term lunar infrastructure expectations.

Record Financial Results Continue to Support Growth Story

Despite the market volatility, Intuitive Machines continued to report strong operational momentum. The company posted record Q1 2026 revenue of $186.7 million, alongside record gross margin performance and positive adjusted EBITDA.

Backlog expanded sharply to approximately $1.1 billion, supported by nearly $428.9 million in newly awarded contracts. Among the largest wins was a $180.4 million NASA CLPS award tied to the company’s larger Nova-D lunar lander platform.

For investors focused on long-term growth, the combination of rising backlog, recurring government business, and improving profitability has strengthened the company’s position within the expanding lunar economy.

Building a Space Infrastructure Network

Intuitive Machines is also attempting to evolve beyond single-mission contracts into a broader space infrastructure provider.

The company completed its $800 million acquisition of Lanteris Systems and later announced plans to acquire Goonhilly Earth Station and COMSAT-related assets. These transactions add 44 antennas and deep-space communications infrastructure across the United States and the United Kingdom.

The strategy positions Intuitive Machines to develop a global space-to-ground communications network supporting lunar navigation, relay, and cislunar operations. Investors increasingly view this infrastructure-as-a-service model as a potential long-term competitive advantage.

LUNR Chart Daily – Will the Trend Change After Losing NASA Contracts?

After an approximately 80% rally from May lows near $25 to recent highs around $45.50, traders quickly locked in profits following the announcement. The sharp reversal also reinforced how speculative and contract-sensitive the lunar space sector remains, even for companies showing rapid operational progress.

NASA Setback Changes Near-Term Sentiment

Before the reversal, enthusiasm had also been fueled by new NASA lunar reconnaissance agreements tied to LROC and ShadowCam imaging programs, as well as the company’s selection for the U.S. Space Force’s Andromeda IDIQ program with a potential ceiling of $6.2 billion.

Still, the exclusion from NASA’s Lunar Terrain Vehicle initiative overshadowed those developments. The LTV program is viewed as one of NASA’s flagship long-term Moon exploration projects, closely tied to future surface operations and permanent lunar infrastructure.

Analysts Continue Raising Targets

Wall Street firms have remained bullish despite recent volatility.

Several analysts raised their price targets following the company’s earnings report and contract updates:

• Clear Street lifted its target to $44 from $25 and named Intuitive Machines its top pick for 2026.
• B. Riley increased its target to $45 after revenue and EBITDA exceeded expectations.
• Canaccord Genuity raised its target to $41 after the company reported bottom-line profitability.
• Roth Capital Partners issued one of the highest targets at $50.
• Cantor Fitzgerald and Deutsche Bank also raised targets to $43 and $34 respectively.

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Skerdian Meta

Lead Analyst

Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.