Stock Market Today, May 26: Intuitive Machines Reverses Lower After NASA Rover Awards Go to Astrolab, Lunar Outpost
Intuitive Machines (NASDAQ:LUNR), a lunar lander and space infrastructure specialist, closed Tuesday at $34.86, down 17.43%. The stock moved after initially rising on record first-quarter results and positive analyst commentary, then declining when NASA awarded key Lunar Terrain Vehicle contracts to competitors. Investors are now watching how the lost LTV work may affect growth and backlog visibility.
The company’s trading volume reached 47.3 million shares, which is about 231% above compared with its three-month average of 14.3 million shares. Intuitive Machines went pulbic in 2021 and has grown 261% since its IPO.
How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) rose 0.62% to 7,519.12, while the Nasdaq Composite (NASDAQINDEX:^IXIC) advanced 1.19% to 26,656.18. Among aerospace & defense peers, Rocket Lab (NASDAQ:RKLB) closed at $143.2 (+0.87%) and AST SpaceMobile (NASDAQ:ASTS) finished at $119.7 (+13.07%), reflecting continued investor interest in space-related growth stories.
What this means for investors
Intuitive Machines shares reversed lower after NASA’s latest Lunar Terrain Vehicle awards went to Astrolab and Lunar Outpost, undercutting earlier optimism tied to the company’s first-quarter results. The stock initially rose after record quarterly revenue of $186.7 million, positive adjusted EBITDA of $2.7 million, and a quarter-end backlog of about $1.1 billion.
The LTV decision is important because rover systems are a key part of NASA’s Artemis surface infrastructure plan. The recent awards showed that investors are now distinguishing between providers of lunar landers, mobility, delivery, and infrastructure. Intuitive Machines, meanwhile, still has a large backlog and has confirmed its 2026 revenue outlook. Moving forward, investors will watch to see whether the backlog converts into revenue and if the company secures additional NASA, defense, or commercial lunar infrastructure contracts.
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Eric Trie has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends AST SpaceMobile, Intuitive Machines, and Rocket Lab. The Motley Fool has a disclosure policy.
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