Sidus Space (NASDAQ:SIDU) Shares Down 9.2% – Here’s Why

Sidus Space, Inc. (NASDAQ:SIDU)’s stock price traded down 9.2% during trading on Friday . The stock traded as low as $3.33 and last traded at $3.37. 27,448,307 shares traded hands during trading, a decline of 62% from the average session volume of 72,643,422 shares. The stock had previously closed at $3.71.

Analysts Set New Price Targets

Several research firms have weighed in on SIDU. Wall Street Zen cut Sidus Space from a “hold” rating to a “sell” rating in a research report on Saturday, November 22nd. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sidus Space in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

Sidus Space Price Performance

The company has a 50 day moving average of $1.76 and a 200-day moving average of $1.47. The company has a market cap of $118.79 million, a P/E ratio of -2.61 and a beta of -1.64.

Sidus Space (NASDAQ:SIDU) last announced its earnings results on Friday, November 14th. The company reported ($0.24) earnings per share for the quarter. Sidus Space had a negative return on equity of 116.44% and a negative net margin of 655.33%.The business had revenue of $1.30 million during the quarter.

Hedge Funds Weigh In On Sidus Space

Hedge funds and other institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd bought a new position in Sidus Space in the second quarter valued at $168,000. Thompson Davis & CO. Inc. bought a new stake in Sidus Space during the fourth quarter worth about $194,000. Jane Street Group LLC purchased a new position in shares of Sidus Space in the 2nd quarter worth about $95,000. SG Americas Securities LLC bought a new position in shares of Sidus Space during the 4th quarter valued at about $118,000. Finally, Geode Capital Management LLC grew its position in Sidus Space by 28.1% during the second quarter. Geode Capital Management LLC now owns 120,799 shares of the company’s stock valued at $209,000 after acquiring an additional 26,498 shares during the last quarter. Hedge funds and other institutional investors own 17.91% of the company’s stock.

Sidus Space Company Profile

Sidus Space Inc (NASDAQ: SIDU) is an end-to-end space-as-a-service company headquartered in Houston, Texas. The firm provides mission design, spacecraft manufacturing, ground segment infrastructure and mission operations through a turnkey approach tailored to commercial and government customers. Sidus leverages its integrated supply chain to support client missions from concept development through data delivery.

The company’s product offerings include small satellite buses, flight computers, payload integration services and proprietary ground control software, supplemented by cloud-based data processing and analytics tools.