Stardust Power (NASDAQ:SDST) Issues Earnings Results

Stardust Power (NASDAQ:SDST) posted its quarterly earnings data on Thursday. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.04, FiscalAI reports.

Stardust Power Trading Up 0.9%

NASDAQ SDST traded up $0.01 on Thursday, hitting $0.68. 244,504 shares of the stock traded hands, compared to its average volume of 465,925. The company has a market capitalization of $7.19 million, a P/E ratio of -0.34 and a beta of 0.60. The stock has a 50-day moving average of $1.50 and a 200 day moving average of $2.44. Stardust Power has a twelve month low of $0.50 and a twelve month high of $7.67.

Insider Activity at Stardust Power

In related news, COO Chris Edward Celano sold 25,975 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $2.05, for a total transaction of $53,248.75. Following the transaction, the chief operating officer directly owned 102,383 shares in the company, valued at $209,885.15. This trade represents a 20.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Roshen Pujari sold 102,427 shares of Stardust Power stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $2.18, for a total transaction of $223,290.86. Following the completion of the transaction, the chief executive officer directly owned 502,771 shares of the company’s stock, valued at approximately $1,096,040.78. This represents a 16.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 169,233 shares of company stock valued at $358,988. Corporate insiders own 34.51% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp bought a new stake in shares of Stardust Power during the 4th quarter valued at about $44,000. Price T Rowe Associates Inc. MD bought a new position in Stardust Power in the fourth quarter worth about $69,000. Finally, Geode Capital Management LLC lifted its holdings in Stardust Power by 40.3% in the fourth quarter. Geode Capital Management LLC now owns 59,143 shares of the company’s stock worth $181,000 after acquiring an additional 16,989 shares during the last quarter. 32.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on SDST shares. Wall Street Zen lowered Stardust Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Stardust Power in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

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.