Intuitive Machines (LUNR.US) soared over 57% after hours! Won a $4.82 billion contract from NASA
1min read Intuitive Machines(LUNR.US) shares soared over 57% after-hours on Tuesday, trading at $8.50/share. The company announced it had won a contract worth up to $4.82 billion from the National Aeronautics and Space Administration (NASA) for a near-space network to provide communication and navigation services for missions extending from the surface of the Earth to beyond the moon. The contract has a base period of five years with an option for five more years.The contract is crucial for NASA to achieve its near-term goal of landing humans on the moon's south pole before the end of the decade, according to NASA. The lunar region has few direct communication opportunities with Earth ground stations, according to NASA. In addition to human missions, the lunar relay would provide new capabilities for non-human missions, such as remote or autonomous rovers, and navigation services and increased data transmission rates for payloads on the lunar surface."We believe today's win is a significant validation of Intuitive Machines' future and its ability to continue to win more contracts," said Andres Sheppard, senior analyst at Cantor Fitzgerald.Steve Altemus, CEO of Intuitive Machines, said: "This contract marks a turning point for Intuitive Machines' leadership in space communications and navigation. We are thrilled to work as a team with NASA to support the Artemis program and work to expand the lunar economy."Artemis is a government-funded human spaceflight project with the goal of safely landing astronauts on the moon and returning them by 2024, and establishing a sustainable presence to pave the way for future human missions to Mars. The Artemis program is led by NASA and includes several U.S. commercial space companies and international partners.Intuitive Machines' shares have risen more than 111% so far this year. In February, Intuitive Machines' Nova-C lander landed on the near moon's south pole region using SpaceX's Falcon 9 rocket, successfully landing on the moon's surface. This was the first private company to land on the moon, marking another milestone in commercial space. NASA paid just $118 million for the mission, half a century after its first moon landing.