Sidus Space, Inc. ( SIDU ) shares are trading lower on Thursday.

After the successful launch and deployment of SpaceX’s Transporter-10 Rideshare mission on March 4, 2024, the company received signals from its LizzieSat satellite in low Earth orbit.

The Sidus mission’s launch team detects signals on FCC-approved prime radio frequency and maintains satellite communication from its Merritt Island operations center. LizzieSat, a microsatellite, the size of a mini-refrigerator, supports various missions and clients from a single platform.

“After a successful launch and deployment, we are very excited to report that during the launch and early operations (LEOP) stage, we received signals from LizzieSat,” said Carol Craig, CEO at Sidus Space ( SIDU ). 

Two more LizzieSat satellites are expected to launch from Cape Canaveral Space Force Station later this year, the company said in a press release.

These satellites will provide tailored intelligence solutions for industries such as defense, agriculture, maritime, and oil and gas.

Price Action: Sidus shares are trading lower by 1.1% to $3.570 on the last check Thursday.

Image: Courtesy of Sidus Space ( SIDU ), Inc.