Intuitive Machines Drops 6.8% After SDA Contract Win, Secures 3.98% Weight in Roundhill Space ETF
Intuitive Machines shares dropped 6.8% Thursday after a rally triggered by its Lanteris unit winning an 18-spacecraft contract from L3Harris for the U.S. Space Development Agency’s Tranche 3 Tracking Layer. The stock holds a 3.98% allocation in Roundhill’s newly launched Space & Technology ETF MARS, which launched with 23 holdings.
1. SDA Tranche 3 Spacecraft Contract
Intuitive Machines’ subsidiary Lanteris Space Systems was selected by L3Harris Technologies to design, build and deliver 18 advanced spacecraft platforms for the U.S. Space Development Agency’s Tranche 3 Tracking Layer, aiming to provide persistent real-time monitoring of hypersonic and ballistic missile threats.
2. Share Price Reaction and Technical Trend
Following the contract-driven rally on Tuesday, Intuitive Machines shares fell 6.8% to $17.36 on Thursday as traders weighed the long-term revenue potential against broader market and geopolitical risks; the stock remains above its 200-day simple moving average, sustaining its longer-term uptrend.
3. Inclusion in Roundhill Space & Technology ETF
Intuitive Machines holds a 3.98% allocation in Roundhill’s newly launched MARS ETF, which comprises 23 pure-play space economy stocks; the fund targets companies powering space infrastructure within a market forecast to grow from $630 billion in 2023 to $1.8 trillion by 2035.