Stardust Power Inc. (NASDAQ:SDST) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Stardust Power Inc. (NASDAQ:SDST) has earned a consensus rating of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $28.1667.

SDST has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Stardust Power to a “strong sell” rating in a research note on Saturday, September 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Stardust Power in a research note on Wednesday, October 8th.

Institutional Investors Weigh In On Stardust Power

Several hedge funds and other institutional investors have recently modified their holdings of SDST. Warberg Asset Management LLC bought a new stake in shares of Stardust Power in the second quarter valued at about $35,000. Landscape Capital Management L.L.C. acquired a new position in shares of Stardust Power in the 1st quarter worth approximately $160,000. Finally, Armistice Capital LLC bought a new stake in shares of Stardust Power during the first quarter worth $2,134,000. Institutional investors and hedge funds own 32.79% of the company’s stock.

Stardust Power Stock Down 5.4%

Shares of Stardust Power stock opened at $4.40 on Monday. Stardust Power has a fifty-two week low of $1.42 and a fifty-two week high of $79.70. The business has a fifty day simple moving average of $3.89 and a 200-day simple moving average of $4.28. The firm has a market cap of $37.22 million, a price-to-earnings ratio of -0.79 and a beta of 0.23.

Stardust Power (NASDAQ:SDST) last released its earnings results on Wednesday, August 13th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.30). 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.