Stardust Power (NASDAQ:SDST) CFO Sells $10,411.17 in Stock

Stardust Power Inc. (NASDAQ:SDST) CFO Udaychandra Devasper sold 4,507 shares of Stardust Power stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $2.31, for a total transaction of $10,411.17. Following the sale, the chief financial officer directly owned 157,387 shares of the company’s stock, valued at $363,563.97. This represents a 2.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Stardust Power Stock Performance

Shares of NASDAQ SDST opened at $2.38 on Friday. Stardust Power Inc. has a 52-week low of $1.42 and a 52-week high of $8.43. The firm has a market capitalization of $23.37 million, a price-to-earnings ratio of -1.10 and a beta of 0.29. The stock has a 50 day moving average price of $3.45 and a 200 day moving average price of $3.62.

Stardust Power (NASDAQ:SDST) last released its quarterly earnings data on Wednesday, March 25th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.46) by $0.12. Analysts forecast that Stardust Power Inc. will post -0.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Stardust Power in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Stardust Power currently has an average rating of “Moderate Buy” and a consensus target price of $17.00.

Institutional Investors Weigh In On Stardust Power

Several hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its stake in shares of Stardust Power by 40.3% during the fourth 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 in the last quarter. Price T Rowe Associates Inc. MD bought a new position in Stardust Power in the fourth quarter worth approximately $69,000. Finally, State Street Corp bought a new position in Stardust Power in the fourth quarter worth approximately $44,000. Hedge funds and other institutional investors own 32.79% of the company’s stock.

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.