Stardust Power (NASDAQ:SDST) Releases Earnings Results, Beats Expectations By $0.16 EPS

Stardust Power (NASDAQ:SDST) posted its earnings results on Friday. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.16, FiscalAI reports.

Stardust Power Stock Down 3.6%

Shares of SDST traded down $0.00 during mid-day trading on Friday, reaching $0.01. 2,941,053 shares of the stock traded hands, compared to its average volume of 22,052,197. The stock has a fifty day simple moving average of $0.07 and a 200 day simple moving average of $1.66. Stardust Power has a 12-month low of $0.00 and a 12-month high of $4.87. The firm has a market cap of $113,796.90, a price-to-earnings ratio of -0.00 and a beta of 0.81.

Analyst Ratings Changes

SDST has been the topic of a number of recent research reports. Wall Street Zen raised shares of Stardust Power from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Stardust Power in a report on Thursday, October 15th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the stock presently has a consensus rating of “Sell”.

About Stardust Power

Stardust Power Inc. (NASDAQ:SDST) is a development-stage company focused on building a domestic supply chain for battery-grade lithium. The company is developing lithium refining and processing facilities intended to convert lithium feedstocks into products used in electric vehicle batteries, energy-storage systems and other advanced technologies. Stardust Power’s primary project is a planned lithium refinery in Muskogee, Oklahoma. The facility is designed to support the production of battery-grade lithium products, including lithium carbonate, although the project remains subject to development, financing, permitting and construction milestones.