Why LUNR Is Climbing Today

Intuitive Machines (LUNR) is advancing 8% today after the company announced that it had obtained a new, one-year contract worth about $2.5 million from NASA.

LUNR describes itself as a “space exploration, infrastructure, and services company.”

A satellite being released from a launch vehicle, heading into space.

LUNR’s New Deal With NASA

Calling the deal a “study contract,” Intuitive Machines reported that it will seek “to advance lunar logistics handling and offloading” under the agreement. Additionally, the firm is tasked with enhancing NASA’s surface cargo and mobility.

“Intuitive Machines has been methodically working on executing lunar delivery, data transmission, and infrastructure service missions, making us uniquely positioned to provide strategies and concepts that may shape lunar logistics and mobility solutions,” said CEO Steve Altemus in a statement.

Upcoming Goals

LUNR stated that it would use the deal to seek to improve its “heavy-cargo-class lunar lander, which is currently in development.” Specifically, the firm will attempt to enhance the lander’s ability to transport lunar payloads.

The Recent Price Action of LUNR Stock

In the last month, the shares have climbed 28%, while they have soared 194% in the last three months.

LUNR rallied earlier this week along with other names in the space sector after President Donald Trump said during his inaugural speech that the U.S. would seek to advance its “manifest destiny into the stars, launching American astronauts to plant the Stars and Stripes on the planet Mars.”

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Disclosure: None. This article is originally published at Insider Monkey.