Stardust Power Inc. (NASDAQ:SDST) Short Interest Down 12.8% in January

Stardust Power Inc. (NASDAQ:SDST) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totaling 309,730 shares, a drop of 12.8% from the December 31st total of 355,154 shares. Based on an average daily trading volume, of 94,596 shares, the days-to-cover ratio is currently 3.3 days. Currently, 7.1% of the shares of the stock are short sold. Currently, 7.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 94,596 shares, the days-to-cover ratio is currently 3.3 days.

Institutional Trading of Stardust Power

A hedge fund recently bought a new stake in Stardust Power stock. Warberg Asset Management LLC acquired a new stake in shares of Stardust Power Inc. (NASDAQ:SDST) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 179,900 shares of the company’s stock, valued at approximately $35,000. Warberg Asset Management LLC owned approximately 0.30% of Stardust Power as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 32.79% of the company’s stock.

Stardust Power Trading Down 2.8%

NASDAQ SDST opened at $3.83 on Thursday. Stardust Power has a 1 year low of $1.42 and a 1 year high of $9.30. The company has a market cap of $37.60 million, a PE ratio of -0.97 and a beta of 0.26. The stock’s 50-day moving average price is $3.65 and its two-hundred day moving average price is $3.85.

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

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Stardust Power in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Stardust Power currently has an average rating of “Moderate Buy” and an average price target of $28.17.

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.