Jim Cramer’s Lightning Round: 9 Stocks in Spotlight

7. Intuitive Machines, Inc. (NASDAQ:LUNR)

Number of Hedge Fund Holders: 17

Cramer called Intuitive Machines, Inc. (NASDAQ:LUNR) stock a “hot stock” and commented:

“Now that stock is up a great deal. It’s kind of the polar opposite of Nvidia in that it makes no money. Matter of fact, you lose a lot of money. That said: Look, I know a hot stock when I see it. I’m not gonna fight the speculation for space anymore because everybody wants a piece of what Musk has for space, but he doesn’t have it yet. So I’m not gonna bless it, but I’m not gonna fight it.”

Intuitive Machines (NASDAQ:LUNR) is engaged in designing, manufacturing, and operating space products and services in the U.S., focusing on lunar exploration, satellite delivery, space station servicing, and lunar data services to support scientific and human activities on the moon. For the third quarter, the company reported significant growth, more than doubling its revenue compared to the previous year. The company’s revenue reached nearly $58.5 million, marking an increase of 359% year-over-year, with a year-to-date total of $173.3 million.

Despite this growth in revenue, the company posted a loss of approximately $55.5 million, in contrast to a profit of over $33 million during the same period in 2023. However, the company also saw an improvement in profitability, recording a positive gross margin of $4.1 million for Q3.

During the quarter, Intuitive Machines (NASDAQ:LUNR) was awarded a data services contract from NASA for the Near Space Network (NSN), which has a maximum potential value of $4.82 billion. This contract is a significant milestone for the company, enhancing its capabilities in data transmission for in-space communications and navigation. The quarter also concluded with the company holding a cash balance of $89.6 million, the highest cash balance at the end of a quarter in the company’s history.