Thanks. LUNR does look interesting. There's a big short position, so they are scrambling to cover. So far it's holding near the high of the day, and if it holds it could be a good sign for tomorrow. I'm more into buy / hold, but it's fun to watch these casino type stocks :o)
I remember LUNR's moon landing in Feb, and they reportedly have two more NASA missions planned. Looking at LUNR's lander design, the landing supports sure look thin and 'spindly', and sure enough, one of the six support 'legs' broke during the Feb landing. My dad was an engineer in the space program (1960s, 70s), but for investing he stuck to solid large caps with dividends :o)
>>> Intuitive Machines Earnings Reveal Surprise Profit. Why the Stock Is Down Anyway.
Bloomberg
by Al Root
Aug 15, 2024
https://www.barrons.com/articles/intuitive-machines-earnings-stock-price-3a0c6766?siteid=yhoof2
Space start-up Intuitive Machines reported a surprise quarterly profit on Tuesday. Still, shares fell in early trading.
For the second quarter, Intuitive reported earnings of 29 cents a share from sales of $41.4 million. Wall Street was looking for an 18-cent loss from sales of $46.6 million, according to FactSet.
The profit is a surprise but boils down to accounting for items such as warrants. Intuitive’s operating loss in the quarter amounted to $28.2 million, higher than the $9 million loss analysts had expected.
Intuitive is still a relatively young company and sales matter more than earnings at this point. While sales missed estimates analyst estimates, they still grew about 130% year over year. What’s more, Intuitive raised the low end of its full-year guidance. The company now expects 2024 sales to fall between $210 million to $240 million. The prior range was $200 million to $240 million. Analysts project 2024 sales of about $228 million.
Wall Street doesn’t project consistent profits for Intuitive until late 2025 when sales top $100 million per quarter. Revenue is generated by offering payload services to NASA and other private companies.
Intuitive ended the quarter with about $34 million in cash on its books. The company used about $42 million to build its business in the first half of the year.
Intuitive stock closed down 1.3% at $3.67 in Tuesday trading while the S&P 500 and Dow Jones Industrial Average rose 1.7% and 1%, respectively.
Coming into Tuesday trading, Intuitive shares were up about 46% year to date. Shares got a big boost early in 2024 from Intuitive’s successful mission of sending a spacecraft for NASA to the moon. The company’s Odysseus spacecraft was the first U.S. lander sent there in more than 50 years.
NASA is leaning hard on commercial service providers these days. Odysseus left Earth on a SpaceX rocket in February before touching down near the moon’s South pole.
NASA plans at least two more missions to the moons using Intuitive landers.
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