Sidus Space Inc (NASDAQ:SIDU) shares are trading sharply higher Wednesday afternoon, extending a volatile rally that has sent the space services stock surging in recent sessions. The move comes as investors respond to fresh funding and a major U.S. defense contract that have quickly reshaped the company’s outlook. Here’s what investors need to know.
- Sidus Space stock is surging to new heights today. What’s driving SIDU stock higher?
Financing Deal Fuels Expansion Plans
Earlier this week, Sidus closed a public offering of 10.8 million Class A shares at $1.50 apiece, raising about $16.2 million in gross proceeds. Management plans to direct the cash toward working capital, manufacturing expansion, product development and broader sales and marketing efforts to scale its vertically integrated space and defense operations.
Defense Win Drives Momentum
The equity raise followed news that Sidus was selected as a contract awardee on the Missile Defense Agency’s SHIELD indefinite-delivery/indefinite-quantity program, which supports the Golden Dome missile defense strategy and carries a total ceiling of up to $151 billion.
The award allows Sidus to compete for work in areas such as AI-enabled sensing, digital engineering and multi-domain defense capabilities.
SIDU shares have already climbed roughly 450% over the past month amid enthusiasm around the SHIELD opportunity, though the stock has swung sharply as traders digest dilution from the offering.
Benzinga Edge Rankings: Benzinga Edge data shows Sidus Space scores positive Price Trend signals across the short, medium and long term, indicating broad-based bullish momentum in the stock.
SIDU Price Action: Sidus Space shares were up 29.96% at $3.47 at the time of publication on Wednesday, according to Benzinga Pro data.
The current price is notably above both the 50-day and 200-day moving averages, suggesting a robust upward momentum. Such a position typically indicates that the stock is in a strong bullish trend, attracting more buyers and potentially leading to further price appreciation.
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