Stardust Power Inc. (NASDAQ:SDST) Short Interest Up 73.0% in January

Stardust Power Inc. (NASDAQ:SDST) saw a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 535,764 shares, an increase of 73.0% from the January 15th total of 309,730 shares. Currently, 12.2% of the shares of the company are sold short. Based on an average daily volume of 1,690,339 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 1,690,339 shares, the days-to-cover ratio is presently 0.3 days. Currently, 12.2% of the shares of the company are sold short.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Stardust Power stock. Warberg Asset Management LLC purchased a new position in shares of Stardust Power Inc. (NASDAQ:SDST) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 179,900 shares of the company’s stock, valued at approximately $35,000. Warberg Asset Management LLC owned approximately 0.30% of Stardust Power at the end of the most recent reporting period. Hedge funds and other institutional investors own 32.79% of the company’s stock.

Stardust Power Stock Performance

NASDAQ:SDST opened at $3.32 on Friday. The firm’s 50-day moving average is $3.67 and its 200-day moving average is $3.81. The company has a market cap of $32.60 million, a price-to-earnings ratio of -0.84 and a beta of 0.26. Stardust Power has a 52-week low of $1.42 and a 52-week high of $9.30.

Stardust Power (NASDAQ:SDST) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.23). Equities analysts predict that Stardust Power will post -0.63 EPS for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Stardust Power in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $17.25.

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.