What's Going On With Intuitive Machines Shares Friday?

Intuitive Machines, Inc. LUNR shares are trading lower on Friday after the company’s lander experienced technical issues.

What To Know: The stock began falling on Thursday afternoon when Intuitive Machines’ IM-2 lunar lander Athena faced technical challenges during its moon landing.

Despite the challenges, Athena successfully landed on the moon, albeit 250 meters from its intended site. After landing, mission controllers were able to accelerate several program and payload milestones, including NASA’s PRIME-1 suite, before the lander’s batteries depleted.

Given the direction of the sun and the orientation of the lander’s solar panels, the company does not expect Athena to recharge. Intuitive Machines is assessing data gathered during the mission.

This mission is the company’s second as part of NASA’s Commercial Lunar Payload Services initiative, which seeks to advance human exploration and establish a sustained presence on the moon.

Amid the mission’s troubles, Canaccord Genuity analyst Austin Moeller maintained a Buy rating on Intuitive Machines and lowered the price target from $26 to $22.

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LUNR Price Action: At the time of publication, Intuitive Machines’ stock is trading 20.7% lower at $8.92, according to data from Benzinga Pro.

Image: Courtesy of Intuitive Machines, Inc.