Stardust Power (NASDAQ:SDST) Stock Price Down 2% – What’s Next?

Stardust Power Inc. (NASDAQ:SDST)’s share price was down 2% on Thursday . The stock traded as low as $0.51 and last traded at $0.53. Approximately 550,858 shares changed hands during mid-day trading, an increase of 36% from the average daily volume of 404,093 shares. The stock had previously closed at $0.54.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SDST shares. B. Riley upgraded shares of Stardust Power to a “strong-buy” rating in a research note on Tuesday, April 8th. Roth Mkm restated a “buy” rating and set a $1.70 price target (down previously from $4.00) on shares of Stardust Power in a research note on Wednesday, April 2nd. Finally, Maxim Group restated a “hold” rating on shares of Stardust Power in a research note on Tuesday, May 20th. One research analyst has rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $5.11.

Stardust Power Stock Performance

The firm has a market cap of $31.83 million, a price-to-earnings ratio of -0.71 and a beta of 0.35. The business’s 50-day moving average is $0.58 and its 200-day moving average is $1.84.

Stardust Power (NASDAQ:SDST) last announced its earnings results on Wednesday, May 14th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.03). Equities research analysts expect that Stardust Power Inc. will post -0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Stardust Power

An institutional investor recently bought a new position in Stardust Power stock. Landscape Capital Management L.L.C. purchased a new stake in Stardust Power Inc. (NASDAQ:SDST) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 340,114 shares of the company’s stock, valued at approximately $160,000. Landscape Capital Management L.L.C. owned approximately 0.59% of Stardust Power as of its most recent filing with the Securities and Exchange Commission (SEC). 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.