What's Going On With Sidus Space (SIDU) Stock?

Sidus Space Inc Class A SIDU shares are trading lower by 5.2% to $11.04 Thursday morning. The stock is pulling back following Wednesday's session, potentially amid profit taking, after the NOAA granted the company a Tier 1 remote sensing license to include Panchromatic and Shortwave Infrared imaging capabilities.

What Happened?

Sidus Space says the Tier 1 remote sensing license from NOAA enables the use of advanced imaging capabilities in their upcoming satellite, LizzieSat.

The company says this approval allows Sidus to collect and distribute high-quality satellite data for various applications, including monitoring marine traffic, detecting illegal fishing, tracking methane emissions and assessing crop health globally.

CEO Carol Craig on Wednesday highlighted the significance of this announcement, emphasizing the company's dedication to innovative space technology and practical problem-solving.

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According to data from Benzinga Pro, SIDU has a 52-week high of $148.00 and a 52-week low of $3.27.