Why Did LUNR Stock Slip After-Hours Despite Lift-Off Momentum From NASA’s Artemis II Mission?

• A new filing registered up to 34.6 million shares for potential resale by existing investors.
• The registered shares represent roughly 22% of outstanding stock, based on about 159.4 million shares outstanding as of March 11.
• The pullback came despite momentum from NASA’s Artemis II, the first crewed Moon mission in more than five decades.

Shares of Intuitive Machines, Inc. (LUNR) slipped over 1% in after-hours trading on Wednesday after the company registered up to 34.6 million shares for potential resale by existing investors, despite momentum from NASA’s Artemis II liftoff toward the Moon.

LUNR stock is on track for its best week in over two months, up nearly 16% in a holiday-shortened week.

LUNR Stockholders May Resell Up To 34.6M Shares

In a recent prospectus filing, Intuitive Machines said existing stockholders may resell up to 34.6 million shares of Class A common stock from time to time. The company noted that it is not selling any shares itself and will not receive proceeds from any such transactions.

The registered shares amount to roughly 22% of the company’s outstanding Class A common stock, based on about 159.4 million shares outstanding as of March 11, according to the filing.

Stockholders may sell shares through a variety of channels, including open-market transactions, block trades, broker-dealer arrangements, privately negotiated deals, or structured trading plans. The filing also permits hedging activities, short-sale settlements, and other derivative-related transactions involving the registered shares.

NASA’s Artemis II Lifts LUNR Momentum

The disclosure came the same day NASA launched four astronauts aboard the Orion spacecraft on the Space Launch System rocket from Kennedy Space Center at 6.35 p.m. ET, marking the first crewed mission toward the Moon in more than five decades. About eight minutes after liftoff, the rocket had already reached space and was traveling at roughly 17,500 miles per hour as it continued toward the Moon.

The crew includes mission commander Reid Wiseman, pilot Victor Glover, mission specialist Christina Koch, and Canadian astronaut Jeremy Hansen. Koch is set to become the first woman to fly near the Moon, Glover the first Black astronaut to do so, and Hansen the first Canadian astronaut to take part in a lunar mission.

During the 10-day journey, the astronauts are expected to travel about 250,000 miles from Earth, pass behind the Moon’s far side, and complete a lunar flyby scheduled for April 6 before returning to splash down in the Pacific Ocean.

NASA has called Artemis II an important step toward returning humans to the lunar surface and part of its broader effort to build a sustained presence on the Moon ahead of eventual missions to Mars.

NASA Contracts Boost LUNR’s Artemis Role

Last month, NASA awarded Intuitive Machines $180.4 million under its Commercial Lunar Payload Services initiative to deliver seven science and technology payloads to the Moon’s south pole region in 2030. Five of those payloads are NASA-funded instruments intended to support future Artemis missions by improving understanding of lunar soil composition and the radiation environment near the south pole.

Earlier, in 2024, NASA awarded the company a Near Space Network communications and navigation services contract with a maximum potential value of $4.82 billion. The agreement covers missions operating between Earth and the Moon and includes plans to deploy lunar relay satellites designed to support navigation services, high-resolution data transmission and autonomous operations as part of NASA’s Artemis campaign.

How Do Retail Traders Feel About LUNR?

On Stocktwits, retail sentiment for LUNR jumped to ‘bullish’ from ‘bearish’ levels over the past day amid over a 200% surge in 24-hour message volumes.

One use noted that the latest filing is “Not an offering, don’t panic.”

Another user said, “A big day for all shareholders!  Targeting $27.55 to $28.78 for immediate bullish upside! Best wishes for a successful launch and landing!”

LUNR stock has risen more than 170% in the past year.

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