Stardust Power (NASDAQ:SDST) Earns Hold Rating from Maxim Group

Stardust Power (NASDAQ:SDST)‘s stock had its “hold” rating reaffirmed by equities researchers at Maxim Group in a research report issued on Tuesday, MarketBeat.com reports.

A number of other equities research analysts also recently weighed in on the stock. Roth Mkm reissued a “buy” rating and issued a $1.70 price target (down from $4.00) on shares of Stardust Power in a report on Wednesday, April 2nd. B. Riley raised shares of Stardust Power to a “strong-buy” rating in a research note on Tuesday, April 8th. Finally, Alliance Global Partners started coverage on shares of Stardust Power in a report on Thursday, February 6th. They set a “buy” rating and a $5.00 target price for the company. One investment analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $5.11.

Stardust Power Stock Performance

Shares of NASDAQ SDST opened at $0.61 on Tuesday. The stock has a fifty day moving average price of $0.57 and a two-hundred day moving average price of $2.53. The firm has a market cap of $35.06 million, a P/E ratio of -0.82 and a beta of 0.22. Stardust Power has a 1 year low of $0.41 and a 1 year high of $28.38.

Stardust Power (NASDAQ:SDST) last posted its quarterly earnings data on Wednesday, May 14th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). On average, research analysts predict that Stardust Power will post -0.63 earnings per share for the current fiscal year.

Insider Activity at Stardust Power

In related news, CFO Udaychandra Devasper sold 38,943 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $0.68, for a total value of $26,481.24. Following the completion of the sale, the chief financial officer now owns 161,326 shares in the company, valued at approximately $109,701.68. This represents a 19.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 185,582 shares of company stock worth $117,486 in the last quarter. 65.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Stardust Power stock. Armistice Capital LLC purchased a new stake in shares of Stardust Power Inc. (NASDAQ:SDST) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,526,000 shares of the company’s stock, valued at approximately $2,134,000. Armistice Capital LLC owned approximately 7.82% of Stardust Power as of its most recent SEC filing. Hedge funds and other institutional investors own 32.79% of the company’s stock.

About Stardust Power

Stardust Power Inc is a vertically-integrated lithium refinery that engages in producing battery-grade lithium. The company was founded in 2022 and is based in Greenwich, Connecticut.