Intuitive Machines (LUNR +8.70%) stock rode the rollercoaster this week.
First came the Cantor Fitzgerald endorsement on Tuesday, driving the stock higher on one Wall Street analyst's confidence that Intuitive would definitely win a multi-billion-dollar NASA contract to build Lunar Terrain Vehicles (LTVs). Disappointment quickly followed when Intuitive did not, in fact, win said contract.
(Two smaller, privately owned space companies did instead.)
Nevertheless, Cantor doubled down on its endorsement, ignoring the LTV news, and instead listing a series of other contracts that Intuitive might still win. Intuitive shares that began the week trading near $38 soared past $45, then dropped back to $38, and finally closed yesterday for a second straight win -- over $40.
Today, it's looking like LUNR wants to make it three wins in a row. As of 12:55 p.m. ET, the space stock is up 9.8%.
Image source: Getty Images.
Roth Capital really loves Intuitive Machines
All week long, Cantor Fitzgerald has stuck to its guns, insisting Intuitive Machines stock is worth $43 a share, but today, a second analyst chimed in. According to Roth Capital, Cantor's actually being too conservative, and Intuitive is worth closer to $75 a share!
As reported on TheFly.com, Roth raised its price target to this new mark last night, citing "significant opportunity in upcoming lunar contract awards across landers, rovers, and broader infrastructure/services."
NASDAQ: LUNR
Key Data Points
All's not lost
But wait. "Rovers?" Didn't Intuitive Machines just lose the LTV contract?
Well, yes and no. Yes, two other companies won $439 million worth of LTV contracts. But the total LTV program is said to be worth $4.6 billion over time.
That means there's still a lot of money up for grabs -- and Cantor and Roth might both still be proven right about Intuitive Machines being a buy.
