Stardust Power Inc. (NASDAQ:SDST) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Stardust Power Inc. (NASDAQ:SDST) have been given a consensus rating of “Buy” by the five research firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $5.1125.

SDST has been the topic of several recent research reports. Wall Street Zen cut shares of Stardust Power to a “strong sell” rating in a research report on Saturday, July 26th. Maxim Group reaffirmed a “hold” rating on shares of Stardust Power in a research report on Tuesday, May 20th.

Insider Activity

In other Stardust Power news, insider Pablo Cortegoso sold 173,610 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $0.19, for a total value of $32,985.90. Following the completion of the sale, the insider owned 5,006,616 shares in the company, valued at approximately $951,257.04. This trade represents a 3.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Udaychandra Devasper sold 160,450 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $0.19, for a total transaction of $30,485.50. Following the completion of the sale, the chief financial officer owned 598,655 shares of the company’s stock, valued at approximately $113,744.45. This trade represents a 21.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 391,140 shares of company stock valued at $93,724. Company insiders own 55.30% of the company’s stock.

Institutional Investors Weigh In On Stardust Power

Large investors have recently modified their holdings of the stock. Warberg Asset Management LLC purchased a new stake in shares of Stardust Power during the 2nd quarter worth approximately $35,000. Landscape Capital Management L.L.C. purchased a new stake in shares of Stardust Power during the 1st quarter worth approximately $160,000. Finally, Armistice Capital LLC purchased a new stake in shares of Stardust Power during the 1st quarter worth approximately $2,134,000. Hedge funds and other institutional investors own 32.79% of the company’s stock.

Stardust Power Price Performance

SDST stock opened at $0.3999 on Wednesday. The stock has a market capitalization of $24.31 million, a PE ratio of -0.71 and a beta of 0.23. The company’s 50-day moving average is $0.35 and its 200-day moving average is $0.53. Stardust Power has a 1 year low of $0.1425 and a 1 year high of $12.56.

Stardust Power (NASDAQ:SDST) last released its quarterly earnings data on Wednesday, August 13th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). On average, analysts anticipate that Stardust Power will post -0.63 earnings per share for the current fiscal year.

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.