Udaychandra Devasper Sells 3,870 Shares of Stardust Power (NASDAQ:SDST) Stock

Stardust Power Inc. (NASDAQ:SDST) CFO Udaychandra Devasper sold 3,870 shares of Stardust Power stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $2.66, for a total value of $10,294.20. Following the sale, the chief financial officer directly owned 64,240 shares in the company, valued at $170,878.40. The trade was a 5.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Friday, June 20th, Udaychandra Devasper sold 16,045 shares of Stardust Power stock. The shares were sold at an average price of $1.90, for a total value of $30,485.50.

Stardust Power Trading Up 7.4%

Shares of SDST stock opened at $2.90 on Thursday. The business’s 50-day moving average price is $3.85 and its 200-day moving average price is $4.72. Stardust Power Inc. has a 12 month low of $1.42 and a 12 month high of $125.60. The firm has a market capitalization of $24.53 million, a price-to-earnings ratio of -0.52 and a beta of 0.23.

Stardust Power (NASDAQ:SDST) last announced its quarterly earnings results on Wednesday, August 13th. The company reported ($0.60) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.30). On average, sell-side analysts predict that Stardust Power Inc. will post -0.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Stardust Power to a “strong sell” rating in a research report on Saturday, September 13th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $51.13.

Institutional Investors Weigh In On Stardust Power

Hedge funds and other institutional investors have recently modified their holdings of the company. Armistice Capital LLC bought a new stake in shares of Stardust Power during the first quarter valued at approximately $2,134,000. Landscape Capital Management L.L.C. bought a new stake in shares of Stardust Power during the first quarter valued at approximately $160,000. Finally, Warberg Asset Management LLC bought a new stake in shares of Stardust Power during the second quarter valued at approximately $35,000. Institutional investors 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.