Intuitive Machines nasdaq Lunr Stock Jumps As First ever Private Lunar Landing Draws Near

Intuitive Machines (NASDAQ: LUNR) Stock Jumps as First-Ever Private Lunar Landing Draws Near

Intuitive Machines (NASDAQ: LUNR) stock surged on Tuesday amid progress on its IM-1 mission. This mission aims to achieve a historic milestone by executing the first-ever private lunar landing this Thursday.

Intuitive Machines (LUNR) has been in the spotlight due to the ongoing progress of its IM-1 mission. The company recently reported that its Nova-C class lunar lander, launched via SpaceX’s Falcon 9 rocket, is successfully on its way to the Moon.

The company has been consistently providing updates. On Friday, the company announced that the IM-1 mission vehicle was in “excellent health” and on track for a lunar landing this week.

Over the weekend, the company successfully transmitted the first IM-1 mission images back to Earth. In the most recent update, Intuitive Machines stated that the mission has “overcome numerous challenges” and is set to land on the Moon on Thursday around 5:49 p.m. ET.

The IM-1 mission represents Intuitive Machines’ inaugural attempt at a lunar landing, conducted under NASA’s Commercial Lunar Payload Services initiative.

Intuitive Machines plans to release its fourth-quarter financial results in the coming weeks, though the management hasn’t announced a specific date yet. Analysts expect the company to report a loss of 33 cents per share and revenue of $18.8 million.

Intuitive Machines (NASDAQ: LUNR) Stock Reaction

LUNR stock soared 50.14% to close at $10.99 on Friday. The traders had exchanged hands with 62,935,611 (62.93 million) shares compared to the average daily trading volume of 2.34 million.