HOUSTON - NASA has selected Intuitive Machines, Inc. (NASDAQ:LUNR, LUNRW) to conduct a feasibility assessment for a Lunar Terrain Vehicle (LTV) as part of the agency's Artemis program, with the contract valued at $30 million. The Houston-based company will develop a roadmap for the LTV using its Nova-D cargo-class lunar lander, marking its entry into human spaceflight operations.
The contract is a component of NASA's broader $4.6 billion LTV Services project, which aims to return humans to the Moon. Intuitive Machines' CEO, Steve Altemus, stated that the contract builds on their proven ability to deliver payloads to the lunar surface and positions the company as a notable commercial contractor in lunar exploration.
The Moon RACER team, which includes partners such as AVL, Boeing (NYSE:BA), Michelin (EPA:MICP), and Northrop Grumman (NYSE:NOC), will collaborate on the LTV's design, focusing on advanced power management, autonomous driving, and navigation systems suitable for the lunar environment. Each partner brings specialized expertise, from AVL's battery electric vehicles and propulsion solutions to Michelin's high-tech materials for durable lunar wheels, and Northrop Grumman's experience in power systems and mission planning.
The LTV is a critical element in NASA's strategy to sustain human presence on the Moon and demonstrate continued American leadership in space. Intuitive Machines plans to retain ownership of the LTV, allowing for commercial use during periods when it is not in operation for NASA, over an estimated ten years of lunar activity.
This contract is part of a two-phase approach by NASA, with the potential for additional awards. Intuitive Machines anticipates bidding for the second phase, which involves the development, delivery, and operation of the LTV on the lunar surface.
In 2024, Intuitive Machines achieved a milestone by successfully soft-landing its Nova-C class lunar lander, Odysseus, on the Moon. The company offers a range of space exploration and infrastructure services through its business units, contributing to the evolving lunar economy.
InvestingPro Insights
Intuitive Machines, Inc. (NASDAQ:LUNR, LUNRW), known for its significant strides in lunar exploration, has recently been tasked with a feasibility assessment for NASA's Lunar Terrain Vehicle. As investors consider the implications of this new contract, it's important to note the latest data and insights from InvestingPro that may influence the company's financial outlook.
InvestingPro Data highlights a market capitalization of $766.69 million USD, indicating the company's size and potential influence in the aerospace sector. Despite a challenging financial landscape with a negative adjusted P/E ratio of -4.35 for the last twelve months as of Q4 2023, LUNR has demonstrated resilience with a Price/Book ratio of -2.73 in the same period.
InvestingPro Tips suggest that analysts are optimistic about the company's sales growth in the current year, which may be bolstered by the recent NASA contract. However, the stock has experienced significant price volatility and has taken a hit over the last week, with a 1-week price total return of -7.7%. This could be a point of concern for investors seeking stability.
On a more positive note, the company's stock has seen a strong return over the last three months, with a 3-month price total return of 183.48%. This impressive performance could be indicative of growing investor confidence in Intuitive Machines' market position and future prospects.
For those looking to delve deeper into the financials of Intuitive Machines, InvestingPro offers a wealth of additional tips. In fact, there are 9 more InvestingPro Tips available for LUNR, which can provide a more comprehensive analysis of the company's performance and potential investment opportunities.
Interested readers can take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, which includes access to these valuable insights. The next earnings date for Intuitive Machines is set for May 14, 2024, which will be a pivotal moment for investors to assess the company's financial trajectory and the impact of the NASA contract on its operations.
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