Intuitive Machines Rockets 333% This Year: Is LUNR Ready For Its Next Moonshot?

Intuitive Machines Inc. LUNR, the space exploration company that made history as the first private entity to land on the moon, has had an astronomical 2024, with its stock up 333% year-to-date. The company's third-quarter earnings reveal the engines of this growth—surging revenues, record backlogs, and a moonshot approach to innovation.

For the third quarter, Intuitive Machines reported revenue of $58.48 million, soaring past analyst expectations of $50.89 million and representing a 359% year-over-year increase. While the company posted a net loss of $80.44 million compared to a $14.31 million profit last year, its backlog hit a record $316.2 million, signaling robust future demand.

CEO Steve Altemus framed the quarter as a turning point. "We made progress across all three pillars… securing another south pole lunar delivery mission, winning the Near Space Network Services contract, and continuing to mature our heavy cargo lander design," Altemus said, highlighting key revenue streams and operational advancements.

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From The Moon To Mars?

Intuitive Machines' first moon lander, Odysseus, achieved a historic lunar touchdown in February, marking the U.S.'s return to the moon after five decades.

The company's ambitions are far from grounded—it completed propulsion system tests for its second lunar mission, targeting a Q1 2024 launch.

With these accomplishments, Intuitive Machines is positioning itself as a leader in the commercial space race, blending government contracts with strategic innovations.

The Charts Suggest There’s More Fuel Left

Charts indicate that Intuitive Machines is on solid ground.

Chart created using Benzinga Pro

LUNR stock trades at $9.85, comfortably above its 20-day simple moving average (SMA) of $8.85, 50-day SMA of $7.97, and 200-day SMA of $5.73. Most of these signals suggest that the stock remains firmly in bullish territory. However, the eight-day SMA of $10.09 lies above the LUNR stock price, indicating some selling pressure.

It introduces a note of caution and could also hint at potential near-term volatility.

For now, the upward momentum is unmistakable, with technical indicators aligning to suggest continued growth for investors who can stomach the space sector's inherent risks.

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