Short Interest in Sidus Space, Inc. (NASDAQ:SIDU) Declines By 41.9%

Sidus Space, Inc. (NASDAQ:SIDU) was the target of a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 538,300 shares, a drop of 41.9% from the February 28th total of 926,300 shares. Approximately 6.4% of the shares of the company are sold short. Based on an average daily volume of 2,460,000 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SIDU. Heights Capital Management Inc. purchased a new stake in shares of Sidus Space in the fourth quarter valued at approximately $2,367,000. Geode Capital Management LLC increased its holdings in Sidus Space by 139.2% in the 4th quarter. Geode Capital Management LLC now owns 86,984 shares of the company’s stock worth $426,000 after acquiring an additional 50,614 shares in the last quarter. Virtu Financial LLC acquired a new position in Sidus Space during the fourth quarter worth $157,000. Jane Street Group LLC acquired a new position in Sidus Space during the fourth quarter worth $118,000. Finally, Northern Trust Corp purchased a new position in Sidus Space during the fourth quarter valued at $111,000. Hedge funds and other institutional investors own 17.91% of the company’s stock.

Sidus Space Price Performance

Shares of NASDAQ:SIDU traded down $0.05 during trading on Friday, hitting $1.50. 479,561 shares of the stock traded hands, compared to its average volume of 2,399,263. The company has a fifty day moving average price of $2.22 and a two-hundred day moving average price of $2.46. Sidus Space has a 52-week low of $1.15 and a 52-week high of $7.65.

About Sidus Space

Sidus Space, Inc, a space-as-a-service company, engages in the design, manufacture, launch, and data collection of commercial satellite worldwide. Its space services include satellite/space hardware manufacturing; Low Earth Orbit (LEO) launch and deployment services; and space-based geospatial intel, imagery, and data analytics.