Micro-cap space services provider Sidus Space soared more than 10% yesterday, Tuesday, February 4, after an announcement that the company’s third satellite had arrived at a California space facility for final preparations ahead of launch. The mission will be carried out in collaboration with SpaceX, owned by Elon Musk, Sidus noted.
Details
Sidus Space climbed more than 10% on the Nasdaq yesterday to close at $2.56 per share. However, in after-hours trading, it gave back 3%.
Earlier in the day, Sidus Space reported that its third LizzieSat satellite had arrived at a California space force base for integration with the spacecraft that will carry it into orbit as part of a joint mission with SpaceX. The company did not specify a launch date.
About Sidus Space
Sidus Space was founded in 2021 by Carol Craig, one of the first women authorized to pilot combat aircraft in the U.S. Navy. It provides space services and is building a constellation of hundreds of LizzieSat satellites. Clients can integrate their own sensors and technology so as to collect the specific space-based data they need.
The first LizzieSat was launched in March 2024, followed by the second in December. The third, now preparing for liftoff, is equipped with the next generation of Sidus’ proprietary AI system, the company said. This will enable on-orbit data processing that combines multiple sources of data for applications such as environmental monitoring, border security, and disaster response. Sidus says it aims to reduce data latency. To do this, the company secured approval from the U.S. Federal Communications Commission in late January for its space-to-space data relay module. In the press release announcing that, Sidus claimed to be the “only known commercial small satellite platform combining rapid direct-to-user data transfer capability and on-orbit AI.”
Stock performance
Despite yesterday’s rally, Sidus Space shares have dropped nearly 50% since the start of the year and are down 41% over the last 12 months. In recent months, the stock has been particularly volatile. In November, it plummeted 40% after the company announced a $7 million secondary offering. However, just a month later, the company’s market capitalization quadrupled in two days, fueled by the announcement of the launch of its second satellite (alongside news of another, $14 million equity raise).
According to MarketWatch, only one analyst currently tracks the company. The call is a “buy” with a target price of $10 per share, nearly four times the last closing price.
