1437 ET - B Riley Securities analysts say Intuitive Machines has strengthened its balance sheet and is in a better position to integrate itself into NASA's moon-monitoring programs with a recent cash injection from a stock offering. NASA's Near Space Network Services program, which could rise to a $4.8 billion valuation, is gaining traction as America's geopolitical competition with China to explore the moon heats up. The analysts say Intuitive aims to follow China's lead in deploying data-relay satellites around the moon, and they continue to favor the company's odds of winning a contract tied to NASA's phase 2 Lunar Terrain Vehicle program in late 2025, "perhaps even more so now given fresh capital infusion," they say. Intuitive Machines falls 4.7% after NASA said it would delay its Artemis campaign to establish a long-term presence on the moon. (emon.reiser@wsj.com)
(END) Dow Jones Newswires
December 05, 2024 14:38 ET (19:38 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
Comments