Stardust Power (NASDAQ:SDST) CFO Udaychandra Devasper Sells 35,776 Shares

Stardust Power Inc. (NASDAQ:SDST) CFO Udaychandra Devasper sold 35,776 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $2.03, for a total transaction of $72,625.28. Following the transaction, the chief financial officer directly owned 121,611 shares in the company, valued at approximately $246,870.33. The trade was a 22.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Udaychandra Devasper also recently made the following trade(s):

• On Friday, March 20th, Udaychandra Devasper sold 4,507 shares of Stardust Power stock. The shares were sold at an average price of $2.31, for a total transaction of $10,411.17.

Stardust Power Price Performance

Stardust Power stock traded up $0.17 during mid-day trading on Thursday, reaching $2.34. 45,241 shares of the company traded hands, compared to its average volume of 301,248. The firm’s 50 day moving average price is $2.59 and its 200 day moving average price is $3.27. The firm has a market capitalization of $23.33 million, a price-to-earnings ratio of -1.17 and a beta of 0.56. Stardust Power Inc. has a 52-week low of $1.42 and a 52-week high of $7.67.

Stardust Power (NASDAQ:SDST) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.14).

Institutional Trading of Stardust Power

Hedge funds 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 $44,000. Price T Rowe Associates Inc. MD bought a new stake in shares of Stardust Power during the 4th quarter valued at $69,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Stardust Power by 40.3% during the 4th quarter. Geode Capital Management LLC now owns 59,143 shares of the company’s stock valued at $181,000 after buying an additional 16,989 shares in the last quarter. Institutional investors own 32.79% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Stardust Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Stardust Power in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, 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.