Stardust Power (NASDAQ:SDST) COO Chris Edward Celano Sells 25,975 Shares

Stardust Power Inc. (NASDAQ:SDST) COO Chris Edward Celano sold 25,975 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $2.05, for a total value of $53,248.75. Following the completion of the transaction, the chief operating officer directly owned 102,383 shares of the company’s stock, valued at approximately $209,885.15. This represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Chris Edward Celano also recently made the following trade(s):

• On Friday, March 20th, Chris Edward Celano sold 3,457 shares of Stardust Power stock. The shares were sold at an average price of $2.32, for a total value of $8,020.24.

Stardust Power Stock Up 7.8%

Shares of SDST opened at $2.34 on Friday. Stardust Power Inc. has a 52-week low of $1.42 and a 52-week high of $7.67. The stock has a market cap of $23.33 million, a PE ratio of -1.17 and a beta of 0.56. The firm’s fifty day moving average is $2.57 and its two-hundred day moving average is $3.25.

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

Analyst Ratings Changes

SDST has been the topic of a number of research reports. Wall Street Zen lowered shares of Stardust Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (e+)” rating on shares of Stardust Power in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Stardust Power currently has an average rating of “Sell”.

Institutional Inflows and Outflows

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