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Sidus Space stock soars on positive industry news

Sidus Space benefitted from investor interest in the satellite connectivity space following AST SpaceMobile’s upbeat earnings announcement / Photo: Facebook/Sidus.space

Sidus Space, a space company aiming to create a constellation of 3D-printed satellites, saw its shares surge more than 37% on Thursday, August 15. The gains were primarily driven by upbeat industry news, as satellite designer and manufacturer AST SpaceMobile reported strong results, explained Freedom Broker senior analyst Yegor Tolmachev. He points out that AST uses Sidus technologies.

Details

In U.S. trading on Thursday, quotes on Sidus Space ended 37.5% higher at $3.30 per share, with most of the growth coming toward the end of the session. On the morning of Friday, August 16, the stock pulled back some, dropping almost 12% at one point.

The Thursday gains in Sidus Space shares were mainly driven by upbeat news in the satellite connectivity and internet sector, said Freedom Broker senior analyst Yegor Tolmachev. In particular, the growth was triggered by the release of second-quarter results by AST SpaceMobile. On Wednesday, AST, which claims to be building the first space-based cellular broadband network, announced a “pivotal moment” in its history: its first five satellites arrived at the launch site and are on target to launch in September. Buoyed by the news, AST stock surged almost 51% on Thursday, giving back only 3.5% in premarket trading on Friday. Tolmachev noted that Sidus equipment and technologies are used in many satellites, including those made by AST, which gave a boost to Sidus stock as well.

The AST SpaceMobile announcement prompted investors to look for other potential beneficiaries of commercial space and LEO (low Earth orbit) ventures, Tolmachev believes. On Thursday, for example, Amazon shares also rose (up 4.4%), likely boosted by subsidiary Kuiper Systems (also known as Project Kuiper), which seeks to deploy a satellite constellation in LEO to provide broadband internet connectivity.

About Sidus Space

Sidus Space is developing the LizzieSat 3D-printed satellite constellation, which is to serve as a space infrastructure platform providing space-based data to meet customers’ needs, said company founder Carol Craig in an interview with Forbes. Note that Craig is one of the first women eligible to fly in combat aircraft as a U.S. Naval flight officer.

Sidus plans to launch a total of 100 satellites, allowing its clients to integrate their sensors and technologies. The first was launched into space in March 2024 by Elon Musk’s SpaceX.

Analyst insights

According to MarketWatch, Sidus Space is covered by one analyst, who recommends buying the stock, with a target price of $10.00 per share, indicating upside of 203% from the last closing price.