Intuitive Machines, Inc. (LUNR) Stock Price & How to Invest

Intuitive Machines (LUNR) is a space-exploration company focused on lunar access and infrastructure. It is best known for its Nova-C lunar lander, which made a notable soft landing on the Moon, the first by a commercial company. The business is built around NASA's Commercial Lunar Payload Services program and related government contracts, delivering payloads to the lunar surface and pursuing adjacent opportunities in lunar data relay and communications, orbital services, and space infrastructure. Since late 2025 it has also owned a satellite-manufacturing operation in Palo Alto, California, which builds spacecraft buses for commercial, civil and national security customers (it has built 13 spacecraft for SiriusXM, and in September 2026 announced an order for two IM 300 platforms from a new customer). That addition lifted revenue to about $490 million over the trailing twelve months, with the June 2026 quarter roughly four times the year-earlier level. The company is still not profitable: trailing net loss is about $131 million, and the June quarter's loss of $0.16 per share was wider than the $0.07 analysts expected. Intuitive Machines went public in 2023 via a SPAC merger and is headquartered in Houston, Texas. It remains a small, speculative space stock whose value depends on winning and executing missions and spacecraft orders, on the pace of NASA's Artemis and lunar programs, and on government and commercial demand for cislunar services. Mission risk is high, and outcomes can swing sharply on the success or failure of individual landings.

Space missions carry high technical risk; a single failed landing or anomaly can damage the stock and future contract prospects, and not every mission succeeds fully. Revenue is lumpy and contract-driven, margins are thin (gross margin about 16%, operating margin about -18% TTM), and the company is not profitable, so it depends on capital markets and faces dilution risk. Debt of about $481 million now exceeds cash of about $367 million, and free cash flow was about -$80 million TTM. Integrating a satellite-manufacturing business adds execution risk on fixed-price spacecraft programs. The company remains heavily reliant on NASA and government funding, which is subject to budget cycles and political shifts. Competition includes other commercial landers, satellite builders and far larger aerospace players. As a small-cap SPAC-origin stock, LUNR is highly volatile: it has traded between about $7.78 and $46.75 over the past 52 weeks and fell about 21% in the month to October 16, 2026. There is real risk of permanent capital loss.

9 analysts publish price targets on LUNR, averaging $29.00 against a $10.78 price as of October 2026, or +169.0%. The published targets run from $13.00 to $43.00, a wide spread, and the ratings split 9 buy, 0 hold, 1 sell. Over the last six months there have been 6 raises and 4 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full LUNR forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Intuitive Machines, Inc.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Lunar lander franchise. Intuitive Machines' Nova-C lander achieved the first commercial soft landing on the Moon, establishing a track record few competitors can match. The most optimistic published target, $43.00, assumes this works close to its best case.

The case against. Space missions carry high technical risk; a single failed landing or anomaly can damage the stock and future contract prospects, and not every mission succeeds fully. The most pessimistic target, $13.00, is roughly what LUNR is worth if this bites instead.

Read the full bull and bear case on LUNR, including what would have to change to break either one. Walnut is not an investment adviser.

No. Intuitive Machines, Inc. (LUNR) has not split its stock in the last 10 years. That is a statement about the window we check rather than about the company’s entire history, so an older split is possible. It also matters less than it once did: fractional shares mean a high price per share no longer keeps smaller investors out, which removed most of the practical reason to split.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Intuitive Machines, Inc.'s investor relations page or your broker.

• Revenue (TTM): ~$490 million (June 2026 quarter up ~310% year over year)
• Margins (TTM): Gross ~16%, operating ~-18%, net ~-27%
• Net income (TTM): ~-$131 million; EPS ~-$0.95
• P/E ratio: Not meaningful (losses); forward P/E negative
• Price-to-sales: ~3.6x trailing revenue
• Free cash flow (TTM): ~-$80 million
• Balance sheet: Cash ~$367 million vs debt ~$481 million
• Market cap / dividend: ~$1.8 billion; no dividend

Intuitive Machines is difficult to value on earnings because it still loses money and results swing with mission timing and spacecraft deliveries. At about 3.6 times trailing sales, after a roughly 38% fall in 2026, the stock prices in meaningful growth from satellite manufacturing and lunar contracts. Analysts expect revenue near $920 million for 2026 and continued losses into 2027, so LUNR remains a speculative, scenario-driven valuation that moves sharply on mission news and contract awards.

These are the investment theses LUNR naturally fits into. Each links to a full theme guide listing every other stock that belongs and the ETFs commonly used as a passive proxy.

Other names that sit close to LUNR: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get LUNR exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic portfolio, so LUNR sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where LUNR fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

Intuitive Machines (LUNR) is a small, speculative space stock tied to lunar missions, government contracts and a newer satellite-manufacturing line, not a steady cash-generating business. Revenue has grown fast in 2026, yet losses continue and the share price has fallen about 38% this year to roughly $11 (market cap near $1.8 billion). In a portfolio it behaves as a high-volatility venture-style position whose outcomes hinge on mission success, NASA program funding and execution on spacecraft orders, which is why most holders who own it size it as a small slice rather than a core position.

Whether LUNR is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is LUNR a buy or a sell?, and where the stock could go from here in the LUNR stock forecast.

For income investors, whether LUNR pays a dividend and how the payout looks is covered in does LUNR pay a dividend? And to weigh LUNR against a peer, read the full side-by-side comparisons: LUNR vs SPCX and LUNR vs RKLB.