Stardust Power Inc. (NASDAQ:SDST) Sees Significant Growth in Short Interest

Stardust Power Inc. (NASDAQ:SDST) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 2,847,818 shares, a growth of 142.8% from the September 15th total of 1,172,934 shares. Approximately 31.0% of the company’s shares are sold short. Based on an average daily trading volume, of 90,008,744 shares, the short-interest ratio is currently 0.0 days.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SDST shares. Wall Street Zen raised Stardust Power from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 15th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Stardust Power Trading Down 35.2%

Shares of NASDAQ:SDST opened at $0.03 on Thursday. Stardust Power has a one year low of $0.03 and a one year high of $7.67. The company has a 50 day moving average of $0.29 and a 200-day moving average of $1.44.

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

About Stardust Power

Stardust Power Inc is a development-stage company focused on building a domestic lithium supply chain in the United States. The company is developing lithium refining capabilities intended to support the production of battery-grade lithium materials used in electric vehicles, energy-storage systems and other rechargeable battery applications.

Its flagship project is a planned lithium refinery in Muskogee, Oklahoma. The facility is designed to process lithium-bearing feedstock into battery-grade lithium carbonate, with the goal of serving customers in the North American battery and energy-storage industries.