Stardust Power (NASDAQ:SDST) Rating Increased to Sell at Wall Street Zen

Wall Street Zen upgraded shares of Stardust Power (NASDAQ:SDST) from a strong sell rating to a sell rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Stardust Power in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Stardust Power Trading Down 1.1%

Shares of SDST opened at $0.67 on Friday. The stock has a market cap of $7.11 million, a P/E ratio of -0.38 and a beta of 0.60. Stardust Power has a 1 year low of $0.50 and a 1 year high of $7.67. The stock’s 50-day moving average price is $1.45 and its two-hundred day moving average price is $2.40.

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

Insider Buying and Selling

In other Stardust Power news, CFO Udaychandra Devasper sold 35,776 shares of Stardust Power stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $2.03, for a total value of $72,625.28. Following the sale, the chief financial officer owned 121,611 shares of the company’s stock, valued at $246,870.33. This trade represents a 22.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Roshen Pujari sold 102,427 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $2.18, for a total value of $223,290.86. Following the completion of the sale, the chief executive officer owned 502,771 shares in the company, valued at approximately $1,096,040.78. This trade represents a 16.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 169,233 shares of company stock valued at $358,988. Company insiders own 34.51% of the company’s stock.

Institutional Investors Weigh In On Stardust Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD bought a new position in shares of Stardust Power during the 4th quarter worth approximately $69,000. State Street Corp bought a new stake in shares of Stardust Power in the fourth quarter worth $44,000. Finally, Geode Capital Management LLC lifted its position in shares of Stardust Power by 40.3% in 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 in the last quarter. Institutional investors and hedge funds own 32.79% of the company’s stock.

Stardust Power Company Profile

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.