Pablo Cortegoso Sells 123,614 Shares of Stardust Power (NASDAQ:SDST) Stock

Stardust Power Inc. (NASDAQ:SDST) insider Pablo Cortegoso sold 123,614 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $0.13, for a total transaction of $16,069.82. Following the completion of the sale, the insider owned 462,973 shares in the company, valued at approximately $60,186.49. This trade represents a 21.07% 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 transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Stardust Power Trading Up 56.6%

NASDAQ SDST traded up $0.09 during trading hours on Thursday, reaching $0.25. The company had a trading volume of 673,078,191 shares, compared to its average volume of 4,757,536. The stock has a market capitalization of $3.51 million, a P/E ratio of -0.14 and a beta of 0.56. The stock has a 50-day moving average of $0.80 and a 200 day moving average of $1.84. Stardust Power Inc. has a 1-year low of $0.11 and a 1-year high of $7.67.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wall Street Zen raised Stardust Power from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Stardust Power in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has a consensus rating of “Sell”.

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.