Short Interest in Stardust Power Inc. (NASDAQ:SDST) Decreases By 20.4%

Stardust Power Inc. (NASDAQ:SDST) was the recipient of a significant decrease in short interest in February. As of February 13th, there was short interest totaling 426,467 shares, a decrease of 20.4% from the January 29th total of 535,764 shares. Based on an average trading volume of 76,283 shares, the days-to-cover ratio is presently 5.6 days. Approximately 9.7% of the shares of the company are sold short. Approximately 9.7% of the shares of the company are sold short. Based on an average trading volume of 76,283 shares, the days-to-cover ratio is presently 5.6 days.

Stardust Power Price Performance

Shares of SDST opened at $3.43 on Monday. The firm has a market capitalization of $33.68 million, a PE ratio of -0.87 and a beta of 0.29. The company’s 50-day moving average is $3.67 and its 200-day moving average is $3.75. Stardust Power has a fifty-two week low of $1.42 and a fifty-two week high of $8.43.

Institutional Investors Weigh In On Stardust Power

Several hedge funds have recently bought and sold shares of the stock. Warberg Asset Management LLC acquired a new position in shares of Stardust Power in the second quarter valued at approximately $35,000. Geode Capital Management LLC boosted 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 purchasing an additional 16,989 shares during the period. State Street Corp acquired a new position in Stardust Power in the 4th quarter valued at $44,000. Finally, Price T Rowe Associates Inc. MD acquired a new position in Stardust Power in the 4th quarter valued at $69,000. 32.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Stardust Power in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.00.

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.