Stardust Power (NASDAQ:SDST) Trading Up 4.3% – What’s Next?

Stardust Power Inc. (NASDAQ:SDST)’s stock price was up 4.3% during mid-day trading on Thursday . The company traded as high as $2.94 and last traded at $2.90. Approximately 45,272 shares changed hands during trading, a decline of 36% from the average daily volume of 70,676 shares. The stock had previously closed at $2.78.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Stardust Power in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Stardust Power Price Performance

The company’s 50 day moving average price is $3.04 and its 200 day moving average price is $3.60. The firm has a market cap of $28.91 million, a PE ratio of -1.34 and a beta of 0.43.

Stardust Power (NASDAQ:SDST) last issued its quarterly earnings results on Wednesday, March 25th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.12. Sell-side analysts expect that Stardust Power Inc. will post -0.63 earnings per share for the current fiscal year.

Insider Activity at Stardust Power

In other news, insider Bruce Czachor sold 17,655 shares of Stardust Power stock in a transaction on Friday, March 20th. The shares were sold at an average price of $2.29, for a total value of $40,429.95. Following the transaction, the insider directly owned 22,345 shares of the company’s stock, valued at $51,170.05. The trade was a 44.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 27,041 shares of company stock valued at $62,140. Insiders own 55.30% of the company’s stock.

Hedge Funds Weigh In On Stardust Power

A number of institutional investors have recently modified their holdings of SDST. State Street Corp acquired a new position in Stardust Power in the 4th quarter valued at $44,000. Price T Rowe Associates Inc. MD acquired a new position in Stardust Power in the 4th quarter valued at $69,000. Finally, Geode Capital Management LLC increased its stake in Stardust Power by 40.3% in the 4th quarter. Geode Capital Management LLC now owns 59,143 shares of the company’s stock valued at $181,000 after buying an additional 16,989 shares during the period. 32.79% of the stock is owned by institutional investors and hedge funds.

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.