LUNR Stock Falls 8.9% After NASA Picks Rivals for Lunar Rovers, May 27

Intuitive Machines stock fell 8.9% to $34.86 on May 26 after NASA announced it selected Astrolab and Lunar Outpost to build lunar terrain vehicles for the Artemis Moon Base program. The loss marks a sharp reversal from earlier gains tied to the company’s record Q1 revenue of $186.7 million and positive adjusted EBITDA of $2.7 million. Trading volume surged 231% above average as investors reassess the company’s role in NASA’s lunar infrastructure strategy.

NASA Awards Rovers to Competitors

NASA announced on May 26 that Astrolab and Lunar Outpost will build lunar terrain vehicles for the Artemis missions, while Blue Origin will deliver the first vehicle. Intuitive Machines was excluded from the rover contract awards. The company’s stock initially rose after Q1 results but reversed lower once the NASA decision became public. Trading volume reached 47.3 million shares, roughly 231% above the three-month average of 14.3 million shares.

Strong Backlog Remains Intact

Despite losing the rover contract, Intuitive Machines retains a $1.1 billion backlog and holds a $180.4 million NASA contract to deliver science and technology payloads to the lunar south polar region. The company reported Q1 revenue of $186.7 million and positive adjusted EBITDA of $2.7 million. Management confirmed its 2026 revenue outlook remains on track.

What the Data Shows About LUNR

Meyka rates LUNR a C with a Sell recommendation, citing weak fundamentals across profitability and valuation metrics. The stock trades at a negative price-to-earnings ratio of -40.07 due to ongoing losses. However, 16 analysts rate the stock a Buy, suggesting confidence in long-term growth. Meyka’s 12-month forecast stands at $19.96, implying 43% downside from current levels.

Sector Context and Broader Implications

NASA’s Moon Base strategy involves 81 scheduled launch missions across three operational phases. The agency is distributing contracts across multiple providers for rovers, landers, and infrastructure. Rocket Lab closed up 0.87% and AST SpaceMobile surged 13.07% on May 26, showing investor interest in space stocks remains strong despite LUNR’s setback. The S&P 500 rose 0.62% and the Nasdaq advanced 1.19%.

Final Thoughts

LUNR lost a key NASA rover contract but retains $1.1 billion in backlog and a $180.4 million payload delivery deal. With Meyka rating the stock a C and analysts showing mixed conviction, the near-term outlook remains uncertain.

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