Stardust Power (NASDAQ:SDST) Raised to “Sell” at Wall Street Zen

Stardust Power (NASDAQ:SDST) was upgraded by analysts at Wall Street Zen from a “strong sell” rating to a “sell” rating in a research report issued on Saturday.

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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce”.

Stardust Power Stock Performance

Shares of Stardust Power stock opened at $2.95 on Friday. Stardust Power has a 52 week low of $1.42 and a 52 week high of $8.43. The stock has a 50 day moving average price of $3.02 and a two-hundred day moving average price of $3.60. The stock has a market capitalization of $29.41 million, a PE ratio of -1.36 and a beta of 0.43.

Stardust Power (NASDAQ:SDST) last announced its quarterly earnings data on Wednesday, March 25th. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.12. Research analysts forecast that Stardust Power will post -0.63 EPS for the current year.

Insider Buying and Selling at Stardust Power

In other news, insider Bruce Czachor sold 17,655 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $2.29, for a total value of $40,429.95. Following the transaction, the insider owned 22,345 shares in the company, valued at $51,170.05. This trade represents a 44.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 27,041 shares of company stock valued at $62,140 in the last 90 days. 55.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in shares of Stardust Power by 40.3% in the fourth quarter. Geode Capital Management LLC now owns 59,143 shares of the company’s stock valued at $181,000 after purchasing an additional 16,989 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in Stardust Power during the fourth quarter worth $69,000. Finally, State Street Corp bought a new stake in Stardust Power during the fourth quarter worth $44,000. Institutional investors own 32.79% of the company’s stock.

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.