Sidus Space (NASDAQ:SIDU) Shares Down 5.1% - Here's What Happened

Key Points

• Sidus Space shares fell 5.1% to $1.11 in midday trading, with volume reaching about 3.08 million shares—25% below the stock’s average daily volume.
• Analyst sentiment remains negative: Weiss Ratings downgraded the stock to “sell,” Wall Street Zen moved it to “sell,” and the consensus rating is “Sell.”
• The company reported a quarterly loss of $0.06 per share on $0.58 million in revenue, alongside a negative 970.56% net margin; institutional investors own 17.91% of the stock.

Sidus Space, Inc. (NASDAQ:SIDU - Get Free Report) shares were down 5.1% during mid-day trading on Tuesday. The stock traded as low as $1.09 and last traded at $1.11. 3,079,175 shares changed hands during mid-day trading, a decline of 25% from the average daily volume of 4,114,063 shares. The stock had previously closed at $1.17.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings cut Sidus Space from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, October 15th. Wall Street Zen lowered shares of Sidus Space from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has a consensus rating of "Sell".

Sidus Space Trading Down 5.1%

The stock has a market capitalization of $112.35 million, a price-to-earnings ratio of -1.61 and a beta of -0.79. The stock's 50 day moving average is $1.97 and its two-hundred day moving average is $2.83.

Sidus Space (NASDAQ:SIDU - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.06) earnings per share (EPS) for the quarter. Sidus Space had a negative return on equity of 30.71% and a negative net margin of 970.56%. The firm had revenue of $0.58 million for the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SIDU. AlphaCentric Advisors LLC bought a new stake in Sidus Space in the 1st quarter valued at approximately $464,000. Bank of America Corp DE boosted its position in Sidus Space by 24,142.9% during the 1st quarter. Bank of America Corp DE now owns 76,850 shares of the company's stock worth $178,000 after acquiring an additional 76,533 shares during the last quarter. NewEdge Advisors LLC bought a new position in shares of Sidus Space during the 2nd quarter worth approximately $145,000. Dynamic Advisor Solutions LLC bought a new position in shares of Sidus Space during the 2nd quarter worth approximately $74,000. Finally, OMERS ADMINISTRATION Corp grew its stake in shares of Sidus Space by 136.2% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 30,000 shares of the company's stock worth $70,000 after acquiring an additional 17,300 shares in the last quarter. 17.91% of the stock is currently owned by institutional investors.

About Sidus Space

Sidus Space, Inc is a space-as-a-service company that develops and operates satellite systems, spacecraft components and related space infrastructure. The company provides end-to-end services spanning satellite design and manufacturing, payload integration, launch coordination, in-orbit operations and data services for commercial, government and defense customers.

Sidus Space's product portfolio includes its LizzieSat satellite platform and related satellite buses, which are designed to support hosted payloads, technology demonstrations, remote sensing and other missions.

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