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

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

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Stardust Power in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Stardust Power Price Performance

Shares of NASDAQ SDST opened at $0.67 on Friday. Stardust Power has a 12 month low of $0.50 and a 12 month high of $7.67. The company has a market cap of $7.11 million, a price-to-earnings ratio of -0.38 and a beta of 0.61. The business has a fifty day simple moving average of $1.45 and a 200-day simple moving average of $2.39.

Stardust Power (NASDAQ:SDST) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.04.

Insider Activity

In other news, CFO Udaychandra Devasper sold 35,776 shares of the stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $2.03, for a total value of $72,625.28. Following the completion of the sale, the chief financial officer owned 121,611 shares in the company, valued at $246,870.33. This represents a 22.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $2.18, for a total value of $223,290.86. Following the completion of the sale, the chief executive officer directly owned 502,771 shares of the company’s stock, valued at approximately $1,096,040.78. This trade represents a 16.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 169,233 shares of company stock worth $358,988 over the last quarter. Corporate insiders own 34.51% of the company’s stock.

Institutional Investors Weigh In On Stardust Power

Hedge funds have recently bought and sold shares of the business. State Street Corp acquired a new stake in Stardust Power during the 4th quarter worth about $44,000. Price T Rowe Associates Inc. MD purchased a new position in Stardust Power during the 4th quarter valued at about $69,000. Finally, Geode Capital Management LLC increased its holdings in shares of 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. 32.79% of the stock is owned by hedge funds and other institutional investors.

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.