Stardust Power FY2029 EPS Estimate Decreased by Roth Capital

Stardust Power Inc. (NASDAQ:SDST) – Equities research analysts at Roth Capital cut their FY2029 EPS estimates for shares of Stardust Power in a research note issued to investors on Tuesday, August 19th. Roth Capital analyst J. Reagor now forecasts that the company will earn $0.17 per share for the year, down from their prior estimate of $0.20. The consensus estimate for Stardust Power’s current full-year earnings is ($0.63) per share.

Several other equities analysts have also weighed in on the stock. Maxim Group restated a “hold” rating on shares of Stardust Power in a research report on Tuesday, May 20th. Wall Street Zen lowered Stardust Power to a “strong sell” rating in a research report on Saturday, July 26th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Stardust Power currently has an average rating of “Buy” and a consensus target price of $5.11.

Stardust Power Stock Down 2.5%

Shares of SDST opened at $0.39 on Wednesday. The firm has a 50-day moving average price of $0.35 and a 200 day moving average price of $0.53. The firm has a market capitalization of $23.71 million, a PE ratio of -0.70 and a beta of 0.23. Stardust Power has a 52-week low of $0.1425 and a 52-week high of $12.56.

Stardust Power (NASDAQ:SDST) last issued its earnings results 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).

Insiders Place Their Bets

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

Hedge Funds Weigh In On Stardust Power

A number of large investors have recently bought and sold shares of the company. Warberg Asset Management LLC bought a new position in Stardust Power during the 2nd quarter worth $35,000. Landscape Capital Management L.L.C. bought a new position in Stardust Power during the 1st quarter worth $160,000. Finally, Armistice Capital LLC bought a new position in Stardust Power during the 1st quarter worth $2,134,000. Institutional investors and hedge funds own 32.79% of the company’s stock.

Stardust Power Company Profile

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.