Sidus Space Shares Surge Monday Following $16.2M Offering, Defense Contract Win

Benzinga · 1d ago

Sidus Space Inc (NASDAQ:SIDU) shares are trading sharply higher Monday morning, extending a volatile rally that has seen the stock climb approximately 250% in the past month. Here’s what investors need to know.

Sidus Space shares are climbing with conviction. What’s behind SIDU gains?

What To Know: The surge coincides with the expected closing of a public offering Monday, which is set to generate roughly $16.2 million in gross proceeds.

The offering was priced at $1.50 per share, for 10.8 million shares of Class A common stock. Management intends to utilize the fresh capital for working capital and general corporate purposes, specifically targeting manufacturing expansion and product development to scale operations.

The recent momentum is primarily fueled by the company’s selection for the Missile Defense Agency’s SHIELD IDIQ program to support the “Golden Dome” initiative, a major contract that initially sent shares soaring over 90%.

While the capital raise triggered a brief sell-off last week, investors have potentially shifted focus to the long-term growth potential of the Florida-based company.

Benzinga Edge Rankings: Benzinga Edge data reinforces this bullish outlook, highlighting positive Price Trend indicators across short, medium and long-term horizons.

SIDU Price Action: Sidus Space shares were up 20.21% at $2.31 at the time of publication on Monday, according to Benzinga Pro data.

The current price is notably above both the 50-day and 200-day moving averages, reflecting a bullish trend that signals investor confidence.

The substantial distance from these averages indicates that the stock has been performing well relative to its historical performance, which may attract further interest from traders looking for growth opportunities.

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