New York, Feb 27, 2026, 09:49 EST — Regular session
- Shares of Intuitive Machines slipped in early Friday trading, with investors eyeing a pending $175 million equity agreement.
- Private shares are set to change hands Friday, with funds going toward boosting communications and expanding the data network.
- Opinions are divided among analysts, with some pointing to uncertainty around the timing of the NASA award and worries about dilution weighing on the trade.
Shares of Intuitive Machines, Inc. slipped roughly 2.3% to $17.26 Friday morning, following a volatile two-day stretch linked to its $175 million fundraising push. 1
The stock tumbled 15.9% Wednesday, but on Thursday bounced back 11.2% to end the session at $17.67, historical pricing data show. 2
The timing is key, with Intuitive Machines expecting to close the strategic equity deal on Feb. 27, pending standard conditions. According to the company, the funds will target satellite communications and in-space data processing, all part of its Near Space Network Services strategy. Several imminent U.S. government award announcements are also on the radar. CEO Steve Altemus described the effort as building “a scalable infrastructure platform from low-Earth orbit to the Moon and into deep space.” 3
The regulatory filing put the deal at $15.12 per share through a PIPE—industry shorthand for a private investment in public equity, where institutional investors get stock quickly, boosting liquidity but also increasing the share count. The company expects to file a resale registration statement by April 1, which would pave the way for those new shares to become tradable. At that price, the numbers point to about 11.6 million shares. 4
After the stock’s slide, B. Riley’s Mike Crawford sounded bullish in a note, calling on investors to “buy aggressively.” He pointed to the added cash as a lever for pursuing fresh contracts. 5
Stifel stuck with its Hold rating and $20 target, opting for caution as it waits for the Lunar Terrain Vehicle contract verdict—a “known unknown” for its model, as the firm put it. 6
The push and pull are clear on the tape. With extra capital, Intuitive Machines has latitude to expand into areas like space-based data and communications. But a bigger war chest sets higher expectations for execution. Investors usually back the mission—they just debate the numbers.
The downside is clear. Should financing falter, if major awards show up late, or margins shrink as hardware and services ramp up, shares could slide fast — plus, with more shares out there, bouncing back gets tougher.
Right now, traders are focused on whether the $175 million deal goes through as planned, and any word on those government awards the company mentioned. The next big event is the earnings release, set for March 19. 7
