Stardust Power (NASDAQ:SDST) CFO Udaychandra Devasper Sells 3,927 Shares

Stardust Power Inc. (NASDAQ:SDST) CFO Udaychandra Devasper sold 3,927 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $3.49, for a total transaction of $13,705.23. Following the completion of the transaction, the chief financial officer directly owned 68,558 shares in the company, valued at approximately $239,267.42. The trade was a 5.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Stardust Power Stock Down 5.2%

Shares of Stardust Power stock traded down $0.18 during trading on Wednesday, reaching $3.29. 50,478 shares of the company were exchanged, compared to its average volume of 82,722. The business has a 50-day moving average price of $4.09 and a 200-day moving average price of $3.81. Stardust Power Inc. has a twelve month low of $1.42 and a twelve month high of $55.00.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SDST shares. Weiss Ratings restated a “sell (e+)” rating on shares of Stardust Power in a research report on Wednesday, October 8th. Wall Street Zen lowered Stardust Power to a “strong sell” rating in a research report on Saturday, September 13th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.17.

Institutional Trading of Stardust Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Armistice Capital LLC bought a new stake in Stardust Power during the 1st quarter worth about $2,134,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Stardust Power in the first quarter valued at about $160,000. Finally, Warberg Asset Management LLC acquired a new position in Stardust Power during the second quarter valued at approximately $35,000. 32.79% of the stock is currently 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.