Intuitive Machines experienced extreme volatility on Tuesday, with shares ultimately closing down sharply after the company was passed over for a major NASA contract, despite a positive analyst rating earlier in the day.
- The stock plunged 8.89% to close at $34.86 during the regular session after NASA announced it had selected rivals Astrolab and Lunar Outpost for its Lunar Terrain Vehicle (LTV) contracts.
- Earlier in the day, the stock had rallied after Cantor Fitzgerald raised its price target to $43, citing optimism about the company's revenue guidance and potential contract wins.
- The stock is staging a partial rebound in after-hours trading, rising 6.3% to $37.04 from its lower close.