Shares of space exploration company Intuitive Machines (NASDAQ:LUNR) are skyrocketing today after Intuitive’s Nova-C lunar lander successfully completed a spacecraft test run.
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This is a crucial milestone towards Intuitive’s aim of completing its lunar lander and its journey to the moon. The test run verified a number of parameters including flight software, the functionality of the propulsion system, flight avionics as well as liquid oxygen and methane loading.
The test run was conducted at Intuitive’s Small Vehicle Engine Verification Facility in Houston and Steve Altemus, the Co-founder, President, and CEO of the company commented, “This was the most comprehensive test to date short of flying the lander in space.”
Overall, the Street has a $16.67 consensus price target on Intuitive Machines alongside a Strong Buy consensus rating. Today’s price gains come after a nearly 9.2% drop in Intuitive shares over the past month.
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