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

Stardust Power Inc. (NASDAQ:SDST) has received an average rating of “Buy” from the five analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $51.1250.

A number of equities research analysts recently issued reports on the company. Maxim Group reissued a “hold” rating on shares of Stardust Power in a research note on Tuesday, May 20th. Wall Street Zen lowered Stardust Power to a “strong sell” rating in a research note on Saturday.

Insider Buying and Selling

In related news, CFO Udaychandra Devasper sold 16,045 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $1.90, for a total transaction of $30,485.50. Following the completion of the sale, the chief financial officer directly owned 59,865 shares of the company’s stock, valued at approximately $113,743.50. This trade represents a 21.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Pablo Cortegoso sold 17,361 shares of the firm’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $1.90, for a total value of $32,985.90. Following the sale, the insider directly owned 500,661 shares of the company’s stock, valued at $951,255.90. This represents a 3.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,113 shares of company stock valued at $93,719 over the last three months. 55.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Stardust Power

Institutional investors and hedge funds have recently bought and sold shares of the company. Warberg Asset Management LLC purchased a new position in shares of Stardust Power in the 2nd quarter valued at $35,000. Landscape Capital Management L.L.C. purchased a new position in shares of Stardust Power in the 1st quarter valued at $160,000. Finally, Armistice Capital LLC purchased a new position in shares of Stardust Power in the 1st quarter valued at $2,134,000. 32.79% of the stock is owned by institutional investors.

Stardust Power Stock Performance

NASDAQ:SDST opened at $2.80 on Friday. The stock’s fifty day moving average is $3.82 and its 200 day moving average is $4.80. Stardust Power has a fifty-two week low of $1.42 and a fifty-two week high of $125.60. The firm has a market capitalization of $23.69 million, a PE ratio of -0.50 and a beta of 0.23.

Stardust Power (NASDAQ:SDST) last released its quarterly earnings results on Wednesday, August 13th. The company reported ($0.60) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.30). Equities analysts forecast that Stardust Power will post -0.63 EPS for the current year.

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.