Intuitive Machines (NASDAQ:LUNR) is trending on social media and business news websites as LUNR stock moves up today. Shares of the company are up almost 4% as of this writing. This comes after Intuitive Machines won a NASA contract to support the agency’s efforts for a mission to the moon.
Intuitive will be a “prime contractor” for NASA’s Artemis campaign, which is slated to include human exploration of the moon. Intuitive Machines will receive an initial payment of $30 million as part of the contract.
LUNR Stock: Intuitive Machines’ Contract From NASA
Under the agreement, Intuitive Machines will help complete a “Lunar Terrain Vehicle Services Feasibility Assessment.” The LTV feasibility roadmap will also utilize Intuitive’s Nova-D cargo-class lunar lander.
The company will work on the LTV plans with a number of partners. These include Boeing (NYSE:BA), auto supplier Michelin (OTCMKTS:MGDDY) and huge defense contractor Northrop Grumman (NYSE:NOC).
NASA plans to spend a max total of $4.6 billion on the LTV.
More About Intuitive Machines
Intuitive Machines reports itself to be the “only United States commercial company to deliver science and technology data from the surface of the Moon.” On Feb. 23, the company successfully landed on the moon and deployed “five NASA payloads and commercial cargo.”
Intuitive was first launched in 2012 by co-founder, President and CEO Stephen Altemus, who was previously the Deputy Director of NASA’s Johnson Space Center. Meanwhile, co-founder and Chairman Dr. Kamal Ghaffarian previously “held numerous technical and management positions” at Lockheed Martin (NYSE:LMT), Ford Aerospace and Loral.
Most recently, on March 27, Intuitive Machines disclosed that it would look to sell $300 million of LUNR stock. Last year, the firm generated $79.5 million of revenue, resulting in an operating loss of $55.3 million.
On the date of publication, Larry Ramer did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines
