Stardust Power Inc. (NASDAQ:SDST) Stock Short Interest Rises 233.2%

Stardust Power Inc. (NASDAQ:SDST) was the recipient of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 1,172,934 shares, an increase of 233.2% from the August 31st total of 352,070 shares. Approximately 12.7% of the shares of the company are short sold. Based on an average daily trading volume, of 7,073,343 shares, the days-to-cover ratio is currently 0.2 days.

Stardust Power Price Performance

Shares of SDST traded down $0.01 during midday trading on Friday, hitting $0.11. 20,457,335 shares of the company traded hands, compared to its average volume of 48,772,348. Stardust Power has a one year low of $0.10 and a one year high of $7.67. The firm has a market cap of $1.54 million, a P/E ratio of -0.06 and a beta of 0.56. The stock has a 50-day moving average of $0.58 and a 200-day moving average of $1.69.

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

Analysts Set New Price Targets

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

About Stardust Power

Stardust Power Inc is a development-stage company focused on building a domestic supply chain for battery-grade lithium in the United States. The company is developing lithium refining capabilities intended to serve the electric vehicle, energy storage, and broader battery markets.

Stardust Power’s primary project is a planned lithium refinery in Muskogee, Oklahoma. The facility is designed to process lithium feedstock into battery-grade lithium products, although the project remains subject to development, financing, permitting, construction, and other risks associated with large-scale industrial projects.

The company is focused primarily on the U.S.