Stardust Power (NASDAQ:SDST) Upgraded 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 report issued on Saturday morning.

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

Stardust Power Stock Performance

Shares of NASDAQ SDST opened at $0.67 on Friday. The stock has a market cap of $7.09 million, a PE ratio of -0.38 and a beta of 0.61. Stardust Power has a fifty-two week low of $0.50 and a fifty-two week high of $7.67. The stock has a fifty day moving average of $1.42 and a 200-day moving average of $2.36.

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

Insider Activity

In other news, CEO Roshen Pujari sold 102,427 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $2.18, for a total transaction of $223,290.86. Following the completion of the transaction, the chief executive officer owned 502,771 shares of the company’s stock, valued at approximately $1,096,040.78. The trade was a 16.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 107,482 shares of company stock worth $233,114. Company insiders own 34.51% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SDST. State Street Corp purchased a new stake in Stardust Power in the fourth quarter valued at approximately $44,000. Price T Rowe Associates Inc. MD purchased a new position in Stardust Power in the 4th quarter worth approximately $69,000. Finally, Geode Capital Management LLC grew its stake in Stardust Power by 40.3% in the 4th quarter. Geode Capital Management LLC now owns 59,143 shares of the company’s stock worth $181,000 after buying an additional 16,989 shares in the last quarter. 32.79% of the stock is currently owned by institutional investors.

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.