Empery Asset Management Reduces Sidus Space Holdings by 50% Amidst Poor Financial Performance and Valuation

Empery Asset Management, LP reduced its holdings in Sidus Space Inc by 241,546 shares on March 31, 2023. The shares were sold at $1.48, marking a 50% reduction in the firm's stake in Sidus Space Inc. This strategic move may indicate the firm's reassessment of its investment in Sidus Space Inc, considering the company's current market performance and financial metrics.

Sidus Space Inc. (NASDAQ: SIDU) has recently received a Notice of Allowance from the U.S. Patent and Trademark Office for its patent application covering the structural framework of the LizzieSat satellite platform [1]. This patent underscores the company's commitment to advancing satellite technology and expanding mission adaptability across various sectors. The modular configuration of the patented system allows for customization and reconfiguration of satellite components, enhancing data processing, system redundancy, and the accommodation of new payloads.

In addition to this patent achievement, Sidus Space has entered into a strategic collaboration with Saturn Satellite Networks, Inc. through a Memorandum of Understanding (MOU) [2]. The agreement outlines a partnership to support the development and deployment of Saturn's SBN-X platform, a low-cost, high-performance GEO satellite solution. Sidus Space will provide critical support, including assembly, integration, and testing services at its advanced manufacturing facilities in Cape Canaveral, Florida.

These developments come amidst a significant reduction in holdings by Empery Asset Management, LP. The firm sold 241,546 shares of Sidus Space Inc. on March 31, 2023, at $1.48 per share, marking a 50% reduction in its stake [3]. This strategic move may indicate a reassessment of Sidus Space's investment potential, considering the company's current market performance and financial metrics.

References:
[1] https://www.spacewar.com/reports/Sidus_Space_awarded_US_patent_allowance_for_modular_satellite_system_999.html
[2] https://www.stocktitan.net/news/SIDU/sidus-space-and-saturn-satellite-networks-sign-memorandum-of-vcri5nea3llo.html
[3] [Source Material]