Crain Timothy Price II sold $2.2M of LUNR

Intuitive Machines (LUNR) is expanding its satellite communications business through acquisitions and new contracts. The company secured a $600M satellite program and a contract for two IM 300 satellites, adding to its $1.8B backlog. However, execution risks and government budget uncertainties persist. LUNR's stock is down from late-2025 highs, trading at $14.11 with a $2.45B market cap.

SpaceX stock rose 2% to $149.02 after its Starship vehicle reached orbit and deployed satellites for the first time, despite an engine fault. Rocket Lab and AST SpaceMobile stocks fell 3%, while the Procure Space ETF dropped 1%. Morgan Stanley, UBS, and TD Cowen maintained positive ratings on SpaceX, with price targets ranging from $200 to $300.

Global venture capital investment in space technology companies reached $23 billion in the year ending June 2026, a 140% increase. SpaceX's (SPCX) IPO raised $85.7 billion, boosting sector liquidity. Late-stage deals grew 123% YoY, with average deal sizes increasing. M&A activity quadrupled, with notable acquisitions by Rocket Lab (RKLB) and Amazon. North America led investments, but Asia is narrowing the gap. Retail sentiment varies, with SPCX neutral, RKLB and LUNR bullish.

Intuitive Machines (LUNR) rose 12.93% to $15.72 after Cantor Fitzgerald reiterated its overweight rating and $32 price target, implying 103.56% upside. The move followed successful satellite delivery to SiriusXM. The company also secured a new contract for two IM 300 series platforms. Hedge fund holdings increased but total value declined 8.9% QoQ.

Intuitive Machines (LUNR) stock rose 12% after Cantor Fitzgerald reiterated its overweight rating and $32 price target. The company, which acquired Lanteris for $800M, is Sirius XM's (SIRI) largest satellite supplier. Analysts expect LUNR to benefit from new contracts and potential profitability next year, with $917M revenue forecasted for 2023.

Rocket Lab (RKLB) raised $1.944B, terminating a $3.6B bridge facility for its Iridium acquisition. AST SpaceMobile (ASTS) advanced satellite tech but delayed launch dates. Intuitive Machines (LUNR) and Planet Labs (PL) secured new contracts. Retail sentiment varied across stocks.