Movement Alert｜Intuitive Machines Rises 8.05% in Regular Trading, Secures Over $600 Million Multi-Satellite Program Authorization

Market Focus08-17 21:32

On August 17, Intuitive Machines rose 8.05% in regular trading, trading at $19.94/share, with turnover of $48.18 million. The rally was driven by the company announcing it received authorization from an undisclosed customer to begin work on a multi-satellite communications infrastructure program with an anticipated value exceeding $600 million.

The program will leverage Intuitive Machines' IM-1300 satellite platform to design, manufacture, integrate, and support multiple spacecraft for a communications infrastructure mission. The company stated the program expands its work across commercial, civil, and national security space markets and supports its strategy of building, connecting, and operating space infrastructure.

The contract win adds to a series of positive developments, including a recent Stifel upgrade to Buy with a $26 price target, a record $1.8 billion backlog reported in Q2, and a $148.3 million NASA lunar lander contract awarded in July. The company has maintained full-year revenue guidance of $900 million to $1 billion.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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