Intuitive Machines stock rises over 12% on satellite and defense growth

Intuitive Machines (NASDAQ: LUNR) shares rose over 12% during trading, reaching a high of approximately $15.76. The stock surge follows positive sentiment from analysts, including Cantor Fitzgerald, which maintained an overweight rating and a $32 price target.

The company has strengthened its position as a satellite supplier following its $800 million acquisition of Lanteris, which enabled the delivery of the IM-1300 series satellite to SiriusXM. Additionally, Intuitive Machines has secured a role as a subcontractor for L3Harris to build missile defense satellites for the U.S. Space Force.

While the company currently faces cash burn and is not yet profitable, analysts anticipate it may begin generating positive free cash flow next year. The company expects approximately $917 million in revenue this year, with a market capitalization currently estimated between $3.2 billion and $3.6 billion.