Insider Selling: Stardust Power Inc. (NASDAQ:SDST) CFO Sells $30,485.50 in Stock

Stardust Power Inc. (NASDAQ:SDST) CFO Udaychandra Devasper sold 160,450 shares of the business’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $0.19, for a total transaction of $30,485.50. Following the sale, the chief financial officer now directly owns 598,655 shares in the company, valued at approximately $113,744.45. The trade was a 21.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Udaychandra Devasper also recently made the following trade(s):

• On Monday, June 16th, Udaychandra Devasper sold 38,450 shares of Stardust Power stock. The shares were sold at an average price of $0.53, for a total value of $20,378.50.

Stardust Power Stock Up 5.6%

NASDAQ SDST opened at $0.20 on Thursday. The company has a market capitalization of $12.21 million, a price-to-earnings ratio of -0.27 and a beta of 0.35. Stardust Power Inc. has a twelve month low of $0.14 and a twelve month high of $28.38. The stock has a fifty day simple moving average of $0.53 and a 200 day simple moving average of $1.40.

Stardust Power (NASDAQ:SDST) last released its quarterly earnings results on Wednesday, May 14th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). Research analysts expect that Stardust Power Inc. will post -0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Stardust Power stock. Landscape Capital Management L.L.C. acquired a new position in shares of Stardust Power Inc. (NASDAQ:SDST) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 340,114 shares of the company’s stock, valued at approximately $160,000. Landscape Capital Management L.L.C. owned 0.59% of Stardust Power as of its most recent SEC filing. Institutional investors and hedge funds own 32.79% of the company’s stock.

Wall Street Analyst Weigh In

SDST has been the subject of a number of recent research reports. Roth Mkm reaffirmed a “buy” rating and issued a $1.70 target price (down previously from $4.00) on shares of Stardust Power in a report on Wednesday, April 2nd. Maxim Group reaffirmed a “hold” rating on shares of Stardust Power in a research note on Tuesday, May 20th. Finally, B. Riley upgraded shares of Stardust Power to a “strong-buy” rating in a report on Tuesday, April 8th. One research analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $5.11.

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.