The Texas Space Commission grants Intuitive Machines $10 million to develop an Earth reentry vehicle and orbital fabrication lab.
Quiver AI Summary
The Texas Space Commission has awarded Intuitive Machines, Inc. a grant of up to $10 million from the Space Exploration and Research Fund to support the development of an Earth reentry vehicle and an orbital fabrication lab aimed at advancing microgravity biomanufacturing. This funding is crucial for reducing risks associated with the company’s future lunar sample return missions. Intuitive Machines, which has already made significant progress in lunar exploration with successful landings in 2024 and 2025, is collaborating with Rhodium Scientific to enhance its biomanufacturing capabilities in space. The 12-month SEARF project will focus on spacecraft development, supporting design reviews and prototype creation, thereby setting the groundwork for future advanced projects and job creation in Texas's space industry.
Potential Positives
- The Texas Space Commission has awarded Intuitive Machines a grant of up to $10 million, which supports the development of an Earth reentry vehicle and orbital fabrication lab.
- This funding is intended to facilitate the company's future lunar sample return missions, which positions Intuitive Machines as a significant player in space exploration technology.
- The partnership with Rhodium Scientific enhances the company's capabilities in microgravity biomanufacturing, potentially leading to unique advancements in pharmaceuticals and materials.
- The press release highlights Intuitive Machines' successful track record, including the landing of the Nova-C class lunar lander, reaffirming its leadership in lunar commercialization and space technology innovation.
Potential Negatives
- The reliance on a grant of up to $10 million from the Texas Space Commission may indicate a dependency on external funding to advance critical projects, which could raise concerns about the company's financial stability and self-sustainability.
- The forward-looking statements section casts doubt on the company's projections, highlighting risks associated with potential delays, launch failures, and operational challenges, which could negatively impact stakeholder confidence.
- The acknowledgment of various risks, including those associated with commercial spaceflight and the handling of dangerous materials, suggests potential vulnerabilities that could lead to operational setbacks or financial losses.
FAQ
What is the grant amount awarded to Intuitive Machines?
The Texas Space Commission has awarded Intuitive Machines a grant of up to $10 million.
What is the purpose of the grant from the Space Exploration and Research Fund?
The grant supports the development of an Earth reentry vehicle and orbital fabrication lab for microgravity biomanufacturing.
What are Intuitive Machines' future plans regarding lunar missions?
The funding aims to enhance risk reduction for future lunar sample return missions by advancing spacecraft technology.
Who is Intuitive Machines partnering with for biomanufacturing?
Intuitive Machines is collaborating with Rhodium Scientific for developing commercial microgravity biomanufacturing processes in space.
What are Intuitive Machines' business units focused on?
The company offers services through four business units: Lunar Access Services, Orbital Services, Lunar Data Services, and Space Products and Infrastructure.
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 22 times in the past 6 months. Of those trades, 0 have been purchases and 22 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 9 sales selling 3,023,784 shares for an estimated $38,678,678.
- TIMOTHY PRICE II CRAIN (SVP and Chief Growth Officer) has made 0 purchases and 4 sales selling 852,857 shares for an estimated $12,962,524.
- STEPHEN J ALTEMUS (Chief Executive Officer) has made 0 purchases and 2 sales selling 200,000 shares for an estimated $2,214,664.
- STEVEN VONTUR (See Remarks) has made 0 purchases and 4 sales selling 15,686 shares for an estimated $326,559.
- PETER MCGRATH (SVP and CFO) sold 37,906 shares for an estimated $292,255
- ANNA CHIARA JONES (GC & Corporate Secretary) has made 0 purchases and 2 sales selling 23,974 shares for an estimated $189,049.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$LUNR Hedge Fund Activity
We have seen 123 institutional investors add shares of $LUNR stock to their portfolio, and 51 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- STATE STREET CORP added 4,484,286 shares (+778.5%) to their portfolio in Q4 2024, for an estimated $81,434,633
- SUSQUEHANNA INTERNATIONAL GROUP, LLP removed 2,092,816 shares (-76.9%) from their portfolio in Q4 2024, for an estimated $38,005,538
- TWO SIGMA INVESTMENTS, LP added 1,831,247 shares (+inf%) to their portfolio in Q4 2024, for an estimated $33,255,445
- UBS GROUP AG added 1,798,442 shares (+4664.0%) to their portfolio in Q4 2024, for an estimated $32,659,706
- MILLENNIUM MANAGEMENT LLC removed 1,255,870 shares (-92.6%) from their portfolio in Q4 2024, for an estimated $22,806,599
- D. E. SHAW & CO., INC. added 1,133,581 shares (+3991.5%) to their portfolio in Q4 2024, for an estimated $20,585,830
- VANGUARD GROUP INC added 1,017,706 shares (+33.6%) to their portfolio in Q4 2024, for an estimated $18,481,540
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$LUNR Analyst Ratings
Wall Street analysts have issued reports on $LUNR in the last several months. We have seen 2 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Benchmark issued a "Buy" rating on 11/15/2024
- Canaccord Genuity issued a "Buy" rating on 11/15/2024
To track analyst ratings and price targets for $LUNR, check out Quiver Quantitative's $LUNR forecast page.
$LUNR Price Targets
Multiple analysts have issued price targets for $LUNR recently. We have seen 2 analysts offer price targets for $LUNR in the last 6 months, with a median target of $16.25.
Here are some recent targets:
- An analyst from Roth Capital set a target price of $20.0 on 03/07/2025
- Austin Moeller from Canaccord Genuity set a target price of $12.5 on 11/15/2024
Full Release
HOUSTON, April 29, 2025 (GLOBE NEWSWIRE) -- The Texas Space Commission has selected Intuitive Machines, Inc. (Nasdaq: LUNR) (“Intuitive Machines”) (“Company”), a leading space technology, infrastructure, and services company, for a grant up to $10 million from the Space Exploration and Research Fund (“SEARF”). This funding supports the development of an Earth reentry vehicle and orbital fabrication lab designed to enable microgravity biomanufacturing and is intended to serve as a critical risk-reduction platform for the Company’s future lunar sample return missions.
“Returning samples from space is one of the most complex challenges in exploration,” said Intuitive Machines Chief Growth Officer Tim Crain, Ph.D. “We are grateful to the State of Texas for fostering an environment where companies like Intuitive Machines may develop transformative space technologies. We hope that the Texas Space Commission’s investment in this capability helps create high-tech jobs, expand Texas’ leadership in space commercialization, and lay the foundation for new industries in the Lone Star State.”
Caption: Render of Intuitive Machines’ Earth reentry vehicle designed to securely return payloads to Earth’s surface as part of the company’s long-term lunar commercialization strategy. Image credit: Intuitive Machines.
In 2022, Intuitive Machines began initial development of the preliminary design for an Earth reentry vehicle capable of supporting missions returning from low Earth orbit, the Moon, or Mars. As Intuitive Machines refined this technology, it partnered with Rhodium Scientific, for commercial microgravity biomanufacturing in space, where certain materials, processes, and pharmaceuticals can be more efficiently produced or exhibit unique properties not possible on Earth.
“Rhodium Scientific is a leader in biomanufacturing in space,” said Rhodium Scientific Founder and CEO Olivia Gámez Holzhaus. “Our work as performers perfecting our processes for in-space biomanufacturing with DTRA and DARPA has enabled us to establish all hardware and protocols necessary for a pipeline to develop and scale biomanufacturing in space.”
Caption: Rhodium’s Variable Gravity Centrifuge, an industry-leading International Space Station flight facility capable of producing Lunar, Martian and Earth gravity equivalent forces having tested over 600 biological samples within one year. Image Credit: Rhodium Scientific.
Together, Intuitive Machines and Rhodium Scientific are developing and managing technical approaches to payload integration for both lunar and low Earth orbit missions, including safe reentry through Earth’s atmosphere. The 12-month SEARF phase one effort will assist in advancing the collaboration with Rhodium Scientific and will support spacecraft development through Critical Design Review and the creation of a full-scale ground prototype for customer development. The Company believes this foundational phase and its partnership with Rhodium Scientific will pave the way for future grants and large-scale projects to bring the reentry system closer to flight readiness.
A bout Intuitive Machines
Intuitive Machines is a diversified space technology, 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, on the Moon, returning the United States to the lunar surface for the first time since 1972. The Company returned to the Moon again in 2025. 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 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 advance earth reentry and microgravity biomanufacturing spacecraft. 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: any delayed launches, launch failures, failure of our satellites or lunar landers to reach their planned orbital locations, risks associated with commercial spaceflight, including any accident on launch or during the journey into space; risks associated with the handling, production and disposition of potentially explosive and ignitable energetic materials and other dangerous chemicals in our operations; failure of our products to operate in the expected manner or defects in our sub-systems; failure to comply with various laws and regulations relating to various aspects of our business; and other public filings and press releases other factors detailed under 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 our Current Reports on Form 8-K, 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.
Contacts
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