The pioneer in space as a service market, Sidus Space, Inc. (NASDAQ: SIDU) announced the execution of a significant service agreement with Leaf Space. After the announcement, SIDU stock has seen a 12% jump in its trading price. SIDU also announced extremely positive Q1 earnings increasing its satellite revenue by 100%, and with its CEO buying 500 thousand shares, it looks like it still has more up its sleeve.
SIDU Fundamentals
After a series of deals and partnerships earlier this month, SIDU announced a new service agreement with Leaf Space. The agreement will see SIDU broadening its ground station network and extending its Earth Observation (EO) data availability to both established and emerging markets.
Earlier this month, SIDU closed multiple agreements and partnerships. SIDU has successfully been chosen by Airbus and Oneweb to design and manufacture parts of their joint venture to make Arrow commercial small satellites. It also started a new partnership with Lulav Space to cooperate in the US market by providing a complete guidance navigation and control (GN&C) solution for both lunar satellite and lunar lander missions.
SIDU also appears to be preparing to announce further deals as its CEO Carol Craig recently purchased 500 thousand shares. In this way, SIDU could announce some big news regarding new deals in the near future. Considering the company’s impressive Q1 earnings, where the company grew its satellite-related revenue 100% YoY, SIDU stock could be set for a run in light of the CEO’s recent purchase. With this in mind, SIDU has a low float of 36.6 million which could allow the stock to run quicker if news regarding new deals is shared soon.
SIDU Financials
In its Q1 2023 report, SIDU’s assets increased 21% YoY from $2.29 million to $2.8 million, and its cash and cash equivalents increased almost 73% YoY from $0.85 million to $1.47 million. SIDU’s total liabilities increased almost 30% YoY from $6.4 million to $8.4 million.
Revenue also increased 26% from $1.8 million to $2.2 million. Operating losses decreased nearly 18% YoY from $2.2 million to $2.6 million, which amounted to a net loss of $3.4 million – a 47% increase YoY.
Technical Analysis
SIDU stock’s trend is neutral with the stock trading in a sideways channel between $0.22 and $0.2543. Looking at the indicators the stock is trading below the 200 MA, a bearish indication, and is trading above the 21 and 50 MAs, which are bullish indications, while the MACD is bearish.
As for the fundamentals, SIDU’s CEO bought 500 thousand shares which would be a positive catalyst. That, coupled with its low float of 36.6 million, could make SIDU stock soar. With that in mind, the stock is trading near one of its supports and its 50 and 21 MAs which could be a good entry point.
SIDU Forecast
SIDU has announced multiple important contracts this month, and it most likely has one major announcement left to make, thanks to the CEO purchasing 500 thousand shares. With the company doubling its satellite-related revenue in Q1, SIDU stock might be interesting to follow this year.
SIDU Fundamentals
After a series of deals and partnerships earlier this month, SIDU announced a new service agreement with Leaf Space. The agreement will see SIDU broadening its ground station network and extending its Earth Observation (EO) data availability to both established and emerging markets.
Earlier this month, SIDU closed multiple agreements and partnerships. SIDU has successfully been chosen by Airbus and Oneweb to design and manufacture parts of their joint venture to make Arrow commercial small satellites. It also started a new partnership with Lulav Space to cooperate in the US market by providing a complete guidance navigation and control (GN&C) solution for both lunar satellite and lunar lander missions.
SIDU also appears to be preparing to announce further deals as its CEO Carol Craig recently purchased 500 thousand shares. In this way, SIDU could announce some big news regarding new deals in the near future. Considering the company’s impressive Q1 earnings, where the company grew its satellite-related revenue 100% YoY, SIDU stock could be set for a run in light of the CEO’s recent purchase. With this in mind, SIDU has a low float of 36.6 million which could allow the stock to run quicker if news regarding new deals is shared soon.
SIDU Financials
In its Q1 2023 report, SIDU’s assets increased 21% YoY from $2.29 million to $2.8 million, and its cash and cash equivalents increased almost 73% YoY from $0.85 million to $1.47 million. SIDU’s total liabilities increased almost 30% YoY from $6.4 million to $8.4 million.
Revenue also increased 26% from $1.8 million to $2.2 million. Operating losses decreased nearly 18% YoY from $2.2 million to $2.6 million, which amounted to a net loss of $3.4 million – a 47% increase YoY.
Technical Analysis
SIDU stock’s trend is neutral with the stock trading in a sideways channel between $0.22 and $0.2543. Looking at the indicators the stock is trading below the 200 MA, a bearish indication, and is trading above the 21 and 50 MAs, which are bullish indications, while the MACD is bearish.
As for the fundamentals, SIDU’s CEO bought 500 thousand shares which would be a positive catalyst. That, coupled with its low float of 36.6 million, could make SIDU stock soar. With that in mind, the stock is trading near one of its supports and its 50 and 21 MAs which could be a good entry point.
SIDU Forecast
SIDU has announced multiple important contracts this month, and it most likely has one major announcement left to make, thanks to the CEO purchasing 500 thousand shares. With the company doubling its satellite-related revenue in Q1, SIDU stock might be interesting to follow this year.