Stardust Power Inc. (NASDAQ:SDST) Receives Average Recommendation of “Moderate Buy” from Brokerages

Stardust Power Inc. (NASDAQ:SDST) has received a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $28.1667.

A number of brokerages have commented on SDST. Weiss Ratings reiterated a “sell (e+)” rating on shares of Stardust Power in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Stardust Power to a “strong sell” rating in a research note on Saturday, September 13th.

Institutional Investors Weigh In On Stardust Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Armistice Capital LLC purchased a new stake in shares of Stardust Power during the first quarter worth about $2,134,000. Landscape Capital Management L.L.C. purchased a new position in shares of Stardust Power in the 1st quarter valued at approximately $160,000. Finally, Warberg Asset Management LLC acquired a new stake in Stardust Power in the 2nd quarter worth approximately $35,000. 32.79% of the stock is currently owned by hedge funds and other institutional investors.

Stardust Power Stock Up 0.6%

SDST opened at $3.27 on Tuesday. The business has a fifty day moving average of $4.03 and a 200 day moving average of $3.73. The stock has a market cap of $32.11 million, a P/E ratio of -0.83 and a beta of 0.25. Stardust Power has a 52-week low of $1.42 and a 52-week high of $55.00.

Stardust Power (NASDAQ:SDST) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.23). Equities analysts anticipate that Stardust Power will post -0.63 EPS for the current fiscal 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.