![Success in Space: Lunar Lander Touches Down on Moon](https://www.forexbrokersreview.org/img/e9911c20-6993-4005-9faf-48b5ca3ddba4/news-article-14.jpeg?fm=jpg&q=80&fit=max&crop=1920%2C1080%2C0%2C0&w=810)
Intuitive’s Odysseus lunar lander successfully touched down near the moon’s south pole at about 6:23 p.m. Eastern time Thursday. Communication was lost during the landing, as expected, and was re-established, faintly, a few minutes later.
Successful Mission Confirmation
“What I can confirm without a doubt is our equipment is on the surface of the moon and we are transmitting…congratulations IM team,” announced Intuitive’s mission director, Tim Crain.
NASA Administrator's Praise
“Congratulations to everyone involved in this great and daring quest at Intuitive Machines, SpaceX, and right here at NASA,” said NASA Administrator Bill Nelson. “What a triumph. Odysseus has taken the moon.”
Significant Achievement
This marks the first time in some 50 years that Americans have returned to the moon, and it's also the inaugural landing on the moon by a small commercial company utilizing a computer-controlled autonomous landing system.
Market Response
Shares of Intuitive Machines saw a 48% increase in premarket trading at $12.27 each. S&P 500 futures stayed flat, while Nasdaq Composite futures experienced a rise of about 0.1%.
Stock Performance Highlights
The stock, along with the lunar lander, experienced quite a volatile week. Despite an initial delay caused by a SpaceX technical issue decreasing Intuitive shares by more than 7% on Feb. 14, the rocket eventually launched on Feb. 15, boosting Intuitive shares by approximately 35%. As the spacecraft journeyed towards the moon, the stock surged by over 50%. However, shares closed down by 11.2% on Thursday. Overall, including early trading on Friday, Intuitive stock is up about 206% for the month.
Intuitive Machines Leads the Way in NASA's Commercial Payload Program
Intuitive Machines is on a mission as part of NASA's commercial payload program, aiming to leverage private enterprises to reduce costs and enhance space accessibility. This innovative approach marks a shift where NASA entrusts companies with the delivery of the payload, akin to FedEx delivering a package.
A New Frontier in Space Investment
According to Benchmark analyst Josh Sullivan, Intuitive Machines' historic first in commercial soft lunar landing has reinvigorated interest in space investments. With a proven track record in lunar landing, the company's mission could potentially unlock milestones valued at $118 million. Sullivan rates the stock as a Buy with a $10 price target, reflecting confidence in Intuitive's future prospects.
Analysts Bullish on Intuitive's Performance
While coverage may be limited with only four analysts currently rating the stock as Buy, the consensus remains positive. Intuitive, with a market cap of approximately $1.2 billion, has exceeded expectations, prompting analysts to reassess their price targets in the days ahead. The average price target for Intuitive shares stands at $8.75 per share among the analysts, indicating room for upward adjustment.
As Intuitive Machines continues to blaze new trails in the space industry, analysts are optimistic about its growth trajectory.
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