Overview
- Tuesday's analyst upgrades and SpaceX's public filing pushed Intuitive Machines shares to new 52-week highs as traders chased space-sector momentum.
- The stock plunged later that same day after NASA awarded Lunar Terrain Vehicle development to Astrolab and Lunar Outpost, leaving Intuitive Machines out of the program.
- Shares recovered partially after the company confirmed it was named an awardee on the U.S. Space Force Andromeda IDIQ and management reaffirmed $900 million to $1 billion revenue guidance.
- Fundamentals remain mixed because Q1 results missed estimates with a $0.25 per-share loss and about $186.7 million in revenue while backlog surged to roughly $1.055 billion that management expects to convert largely this year.
- Near-term catalysts that could move the stock next include the IM-3 lunar mission, NASA Artemis updates, and the timing and size of task orders issued under Andromeda, which will determine whether backlog turns into cash and jobs for company staff.