Space exploration company Intuitive Machines (NASDAQ:LUNR) tanked in pre-market trading after the company’s lunar lander Odysseus tipped over after landing on the moon’s surface. Following the landing, Intuitive and the National Aeronautics and Space Administration (NASA) held a press conference.
Intuitive CEO Steve Altemus announced the successful, albeit sideways, landing of the Odysseus lander on the moon. While slightly off-kilter, the landing was deemed a triumph by both parties. Altemus added that the spacecraft was moving at a speed of 25,000 miles an hour in orbit and landed at about 6 miles an hour.
The spacecraft experienced a minor glitch believed to be caused by one of its feet catching on something during its descent. Despite this, NASA hailed the landing as a success, marking the first soft landing by a U.S. entity on the moon in the past 50 years. Moreover, Odysseus autonomously accomplished this feat, a first for an American company. LUNR’s management stated that all 12 science payloads onboard remain intact and operational, ready to conduct experiments.
What Is the Future of LUNR Stock?
Analysts remain bullish about LUNR stock with a Strong Buy consensus rating based on three Buys. LUNR stock has dropped by more than 50% over the past year, and the average LUNR price target of $14 implies an upside potential of 46% at current levels.
