Short Interest in Sidus Space, Inc. (NASDAQ:SIDU) Declines By 16.6%

Sidus Space, Inc. (NASDAQ:SIDU) saw a significant decline in short interest in February. As of February 27th, there was short interest totaling 8,024,004 shares, a decline of 16.6% from the February 12th total of 9,626,806 shares. Currently, 12.8% of the shares of the company are sold short. Based on an average daily volume of 4,449,427 shares, the days-to-cover ratio is presently 1.8 days. Based on an average daily volume of 4,449,427 shares, the days-to-cover ratio is presently 1.8 days. Currently, 12.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sidus Space in a research note on Thursday, January 22nd. Wall Street Zen raised Sidus Space from a “sell” rating to a “hold” rating in a report on Saturday, February 7th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On Sidus Space

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ground Swell Capital LLC bought a new position in Sidus Space in the 4th quarter worth about $33,000. Resurgent Financial Advisors LLC bought a new stake in shares of Sidus Space during the 4th quarter valued at about $38,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Sidus Space during the fourth quarter worth about $40,000. T3 Companies LLC bought a new position in shares of Sidus Space in the fourth quarter worth approximately $53,000. Finally, Global Retirement Partners LLC purchased a new stake in Sidus Space in the fourth quarter valued at approximately $69,000. 17.91% of the stock is currently owned by hedge funds and other institutional investors.

Sidus Space Trading Down 2.6%

Shares of SIDU traded down $0.06 during mid-day trading on Monday, reaching $2.03. 3,701,415 shares of the stock traded hands, compared to its average volume of 24,498,480. The company has a market cap of $134.70 million, a price-to-earnings ratio of -1.57 and a beta of -1.58. Sidus Space has a 1 year low of $0.63 and a 1 year high of $5.39. The firm has a fifty day moving average price of $2.78 and a 200 day moving average price of $1.77.

About Sidus Space

Sidus Space Inc (NASDAQ: SIDU) is an end-to-end space-as-a-service company headquartered in Houston, Texas. The firm provides mission design, spacecraft manufacturing, ground segment infrastructure and mission operations through a turnkey approach tailored to commercial and government customers. Sidus leverages its integrated supply chain to support client missions from concept development through data delivery.

The company’s product offerings include small satellite buses, flight computers, payload integration services and proprietary ground control software, supplemented by cloud-based data processing and analytics tools.