LUNR Plunges 40%, Craig-Hallum Reiterates Buy Amid NASA Contracts
NASDAQ-listed Intuitive Machines (LUNR) has fallen roughly 40% over the past month, primarily due to profit-taking following its all-time high on May 29. Wall Street analysts project a 124% upside from current levels based on 12-month price targets. Craig-Hallum reiterated its 'Buy' rating on July 1 with a $42 price target, highlighting NASA's recent lunar lander contract awards. LUNR secured $148 million, Firefly Aerospace received $144 million, and Astrobotic was awarded $298 million. The firm noted that LUNR and Firefly awards were in line with expectations, while Astrobotic's exceeded forecasts. Craig-Hallum praised NASA Administrator Isaacman's strategy for efficient resource allocation and partnerships with commercial space firms. Earlier, on June 24, B. Riley analyst Mike Crawford maintained a 'Buy' rating with a $45 target, calling the stock's decline a buying opportunity. He emphasized LUNR's $1.1 billion order backlog and upcoming catalysts to expand it. Intuitive Machines operates as a space exploration, infrastructure, and services company focused on cislunar and deep-space commerce.
Dr. Yaman Ege notes that LUNR's long-term growth prospects remain tied to its lunar infrastructure ambitions. However, short-term volatility in supply chain leaders like TSMC and ASML may indirectly pressure similar tech stocks. The ongoing US-China rare earth elements conflict could further strain project costs and timelines in this sector.