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NASA’s Jet Propulsion Laboratory has chosen Intuitive Machines to build the spacecraft and handle the system integration for a mission called FALCON-RADAR. This mission is designed to study how clouds and heat move through the atmosphere to better understand Earth's climate.
While the company is best known for its moon landers, this win shows it can compete for other types of satellite work. Diversifying into Earth-orbiting missions helps reduce the company's reliance on a few high-stakes moon launches and provides a more stable stream of engineering work.
Source: GlobeNewsWire
Intuitive Machines is scheduled to report its third-quarter results on November 12. Analysts are looking for revenue of about 250 million dollars and a loss of roughly 10 cents per share. The most important thing to watch is the company's progress on its massive 4.8 billion dollar NASA contract. Investors will be looking for updates on when that contract will start turning into steady cash and how the company is managing its spending ahead of its next moon landing missions.
KeyBanc set its price target for the company at $30. This matches the general view among Wall Street analysts, who have an average target of about $31. At the current price of roughly $11, this suggests analysts see significant room for the stock to rise as the company builds out its lunar communication network.
Source: KeyBanc
On October 22, Dr. Christopher Scolese joined the board of directors to fill a vacancy left by Michael Blitzer, who resigned the day before. The company noted that Blitzer’s departure was not due to any disagreement over operations or policies. Dr. Scolese will serve as a member of the audit and nominating committees and will chair the conflicts committee.
While board changes are often routine, Scolese brings deep technical and government experience from his time leading the National Reconnaissance Office and NASA’s Goddard Space Flight Center. For a company whose business depends almost entirely on winning and keeping massive NASA contracts, adding a director with this level of agency experience is a logical step as it scales its lunar infrastructure plans.
Source: 8-K filing
Macquarie set a new price target of $25 for the company, which is more than double where the stock trades today. This is slightly lower than the average analyst target of $30, but it shows growing confidence in the company's path forward.
The company is moving from one-off moon landings to building a permanent communication network for NASA. This new target suggests that analysts believe the company can successfully turn its multi-billion dollar government contracts into steady, long-term revenue.
Source: Macquarie
Management has struggled to predict its own costs, consistently reporting wider losses than analysts expect as the company scales its complex lunar operations.
| Expectation | |
|---|---|
| EPS | $-0.10 |
| Revenue | $246M |
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