Intuitive Machines receives NASA contract for lunar logistics study to enhance Moon exploration capabilities.
Quiver AI Summary
Intuitive Machines, Inc. announced that NASA has awarded the company a study contract to enhance lunar logistics and mobility under the Next Space Technologies for Exploration Partnership (NextSTEP) program. The $2.5 million contract will focus on advancing technologies for transporting lunar payloads using Intuitive Machines' heavy-cargo lunar lander, currently in development, while also improving surface mobility capabilities. CEO Steve Altemus emphasized the company's experience in lunar missions and their commitment to shaping future lunar logistics and exploration. The performance period for this contract is expected to last one year, starting soon.
Potential Positives
- Nasa awarded Intuitive Machines a $2.5 million study contract to support lunar logistics and offloading, enhancing the company's credibility and visibility in the aerospace sector.
- The contract aligns with NASA’s Moon to Mars architecture, indicating that Intuitive Machines is actively participating in significant national space exploration initiatives.
- The award allows Intuitive Machines to leverage its heavy-cargo-class lunar lander, showcasing the company's innovative technological capabilities and expanding its portfolio in lunar infrastructure.
Potential Negatives
- The press release heavily emphasizes forward-looking statements, highlighting inherent risks and uncertainties associated with the company's future performance, which may lead to investor skepticism.
- The company is reliant on the successful development of its heavy-cargo-class lunar lander, which is still in progress, raising concerns about product delivery timelines and project feasibility.
- The mention of a limited one-year performance period for the contract may imply potential pressure on the company to deliver results quickly, possibly leading to rushed or suboptimal performance.
FAQ
What is the new study contract awarded to Intuitive Machines by NASA?
Nasa awarded Intuitive Machines a study contract for lunar logistics and cargo mobility under its NextSTEP program.
How much is the contract awarded to Intuitive Machines?
The awarded contract is approximately $2.5 million for advancing lunar transportation technologies.
What technologies will Intuitive Machines focus on with this contract?
Intuitive Machines will focus on transportation of lunar payloads and expanding surface mobility expertise.
What is the duration of the NextSTEP Appendix R contract?
The NextSTEP Appendix R contract has a one-year performance period, expected to start soon.
What previous achievement does Intuitive Machines have in lunar exploration?
Intuitive Machines successfully landed its Nova-C class lunar lander, Odysseus, on the Moon in 2024.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$LUNR Insider Trading Activity
$LUNR insiders have traded $LUNR stock on the open market 44 times in the past 6 months. Of those trades, 0 have been purchases and 44 have been sales.
Here’s a breakdown of recent trading of $LUNR stock by insiders over the last 6 months:
- KAMAL SEYED GHAFFARIAN has made 0 purchases and 17 sales selling 5,291,622 shares for an estimated $55,613,174.
- TIMOTHY PRICE II CRAIN (SVP and Chief Growth Officer) has made 0 purchases and 11 sales selling 1,952,857 shares for an estimated $19,542,445.
- STEPHEN J ALTEMUS (Chief Executive Officer) has made 0 purchases and 10 sales selling 2,796,982 shares for an estimated $18,088,186.
- MICHAEL BLITZER has made 0 purchases and 3 sales selling 912,673 shares for an estimated $7,660,648.
- STEVEN VONTUR (See Remarks) has made 0 purchases and 3 sales selling 12,166 shares for an estimated $86,654.
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$LUNR Hedge Fund Activity
We have seen 94 institutional investors add shares of $LUNR stock to their portfolio, and 28 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- SUSQUEHANNA INTERNATIONAL GROUP, LLP added 2,317,988 shares (+572.3%) to their portfolio in Q3 2024, for an estimated $18,659,803
- CITADEL ADVISORS LLC removed 1,807,246 shares (-99.8%) from their portfolio in Q3 2024, for an estimated $14,548,330
- MILLENNIUM MANAGEMENT LLC added 1,356,495 shares (+inf%) to their portfolio in Q3 2024, for an estimated $10,919,784
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- NUVEEN ASSET MANAGEMENT, LLC added 587,766 shares (+1519.8%) to their portfolio in Q3 2024, for an estimated $4,731,516
- SIMPLEX TRADING, LLC added 350,119 shares (+1289.3%) to their portfolio in Q3 2024, for an estimated $2,818,457
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Full Release
HOUSTON, Jan. 24, 2025 (GLOBE NEWSWIRE) -- Intuitive Machines, Inc. (Nasdaq: LUNR, LUNRW) (“Intuitive Machines”) (“Company”), a leading space exploration, infrastructure, and services company, announced today that NASA has awarded the Company a study contract to advance lunar logistics handling and offloading; and surface cargo and mobility under the agency’s Next Space Technologies for Exploration Partnership (NextSTEP) Appendix R.
The NextSTEP Appendix R study contract is intended to advance learning in managing everyday challenges in the lunar environment identified by NASA’s Moon to Mars architecture.
“Intuitive Machines has been methodically working on executing lunar delivery, data transmission, and infrastructure service missions, making us uniquely positioned to provide strategies and concepts that may shape lunar logistics and mobility solutions for the Artemis generation,” said Intuitive Machines CEO Steve Altemus. “We look forward to bringing our proven expertise together to deliver innovative solutions that establish capabilities on the Moon and place deeper exploration within reach.”
Intuitive Machines intends to use the approximately $2.5M award to focus on technologies related to the transportation of lunar payloads using the company’s heavy-cargo-class lunar lander, which is currently in development. In addition, the Company expects to expand its surface mobility expertise, gained while working under NASA’s Lunar Terrain Vehicle Services contract. The NextSTEP Appendix R contract has a one-year performance period, which is expected to begin in the coming months.
About Intuitive Machines
Intuitive Machines is a diversified space exploration, infrastructure, and services company focused on fundamentally disrupting lunar access economics. In 2024, Intuitive Machines successfully landed the Company’s Nova-C class lunar lander, Odysseus, on the Moon, returning the United States to the lunar surface for the first time since 1972. The Company’s products and services are offered through its four in-space business units: Lunar Access Services, Orbital Services, Lunar Data Services, and Space Products and Infrastructure. For more information, please visit intuitivemachines.com.
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements that do not relate to matters of historical fact should be considered forward looking. These forward-looking statements generally are identified by the words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “strive,” “would,” “strategy,” “outlook,” the negative of these words or other similar expressions, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements include but are not limited to statements regarding: our expectations, results and plans relating to the NextSTEP contract. These forward-looking statements reflect the Company’s predictions, projections, or expectations based upon currently available information and data. Our actual results, performance or achievements may differ materially from those expressed or implied by the forward-looking statements, and you are cautioned not to place undue reliance on these forward-looking statements. The following important factors and uncertainties, among others, could cause actual outcomes or results to differ materially from those indicated by the forward-looking statements in this press release: our factors detailed under the section titled Part I, Item 1A. Risk Factors of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 filed with the Securities and Exchange Commission (the “SEC”), the section titled Part I, Item 2, Management’s Discussion and Analysis of Financial Condition and Results of Operations and the section titled Part II. Item 1A. “Risk Factors” in our most recently filed Quarterly Report on Form 10-Q, and in our subsequent filings with the SEC, which are accessible on the SEC's website at www.sec.gov.
These forward-looking statements are based on information available as of the date of this press release and current expectations, forecasts, and assumptions, and involve a number of judgments, risks, and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.
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