What's Going On With Sidus Space Shares Today?

Sidus Space, Inc. SIDU shares are trading lower on the bourses in the premarket session on Friday. 

The company’s shares are down over 34% after ending yesterday’s session with a stellar performance of over 60% gain. Over the last one month the company’s shares lost over 33% of its value.

On February 27, the company disclosed that its LizzieSat satellite is now securely encapsulated within SpaceX’s payload fairing in preparation for launch.

Sidus Space said that LizzieSat is targeted to launch as part of SpaceX’s Transporter-10 Rideshare mission no earlier than March 2024 from Space Launch Complex 4 East at Vandenberg Space Force Base in California.

“As we prepare to embark on our mission of Bringing Space Down to Earth with our multi-mission LizzieSat Space Platform with a Purpose, their passion, commitment and tireless efforts made it all possible,” said CEO Carol Craig.

LizzieSat’s main objective is to simultaneously gather data across various sectors like agriculture, maritime, and oil and gas using multiple sensors. These sensors include multispectral, AIS, and optical technologies. The satellite also incorporates Sidus’ onboard FeatherEdge AI for near real-time analysis of imagery and sensor data, providing innovative solutions to clients. 

LizzieSat will aid NASA’s Autonomous Satellite Technology for Resilient Application and Mission Helios’ optical NFT collection alongside other client projects.

Earlier this month, the company announced LS-2 and LS-3 LizzieSat production is underway and on schedule for launch later this year. 

With LS-1 ready for launch and delivered to the Space-X launch site in Vandenburg, the Sidus team in Cape Canaveral is focused on upcoming milestones for LS-2 and LS-3.

On February 23, Sidus Space announced the successful completion of its contract to deliver critical flight hardware to a prominent European space company. 

The delivered hardware includes the FeatherEdge edge computing units, which will serve as the on-board computer for the customer’s spacecraft.

Price Action: SIDU shares are trading lower by 33.2% to $6 premarket on the last check Friday. 

Image: Courtesy of Sidus Space, Inc.