Why is Intuitive Machines stock climbing today?

Intuitive Machines stock climbed 3.5% in pre-open trading after the Houston-based space infrastructure company announced this morning that it has been selected by NASA for the Commercial Lunar Payload Services 2 contract, a multiple-award program with a combined ceiling of $10 billion across all recipients, potentially expanding to $15 billion if NASA exercises a five-year extension. CEO Steve Altemus stated, "We’re excited to participate in this next evolution of CLPS, with expanded tasking opportunities to meet NASA’s needs at the Moon, Mars, asteroids, and beyond."

The CLPS 2 contract is structured as an indefinite-delivery/indefinite-quantity vehicle, meaning NASA will issue individual task orders to selected vendors as mission needs arise, with scope covering orbital delivery, surface mobility, precision landing, lunar-night operations, and services extending beyond the Moon to Mars and asteroids. This award builds on the company’s existing record backlog of $1.8 billion and reinforces a revenue guidance range of $900 million to $1 billion for full-year 2026. Analysts broadly maintain a Buy consensus on the stock, with an average price target of $35.88 across 13 analysts — a significant premium to current levels.

The broader market is providing a constructive backdrop today, with the S&P 500 up approximately 0.9%, the Dow Jones gaining roughly 1.3%, and the Nasdaq advancing about 0.9%. The move also follows a sharp technical rebound on Friday, when shares surged from deeply oversold conditions near the 52-week low of $7.78, with investors positioning ahead of the Q3 2026 earnings report due before the market opens on November 12.

Together, the landmark NASA contract announcement, a supportive macro environment, and growing anticipation around next week’s earnings have combined to push LUNR higher in pre-market, with the stock now trading at $10.84 — well above its session open of $9.14 but still a fraction of its 52-week high of $46.75, leaving considerable room if the earnings report delivers on expectations.