Insider Selling: Stardust Power (NASDAQ:SDST) CFO Sells $72,625.28 in Stock

Stardust Power Inc. (NASDAQ:SDST) CFO Udaychandra Devasper sold 35,776 shares of Stardust Power stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $2.03, for a total transaction of $72,625.28. Following the sale, the chief financial officer directly owned 121,611 shares of the company’s stock, valued at $246,870.33. This represents a 22.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, March 20th, Udaychandra Devasper sold 4,507 shares of Stardust Power stock. The stock was sold at an average price of $2.31, for a total transaction of $10,411.17.

Stardust Power Stock Performance

SDST opened at $2.65 on Friday. The company has a fifty day moving average price of $2.56 and a two-hundred day moving average price of $3.25. Stardust Power Inc. has a 52 week low of $1.42 and a 52 week high of $7.67. The firm has a market capitalization of $26.42 million, a PE ratio of -1.33 and a beta of 0.56.

Stardust Power (NASDAQ:SDST) last released its earnings results on Thursday, May 14th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.14).

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Wall Street Zen cut shares of Stardust Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Stardust Power in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Hedge Funds Weigh In On Stardust Power

A number of hedge funds and other institutional investors have recently made changes to their positions in SDST. State Street Corp bought a new stake in Stardust Power in the 4th quarter valued at $44,000. Price T Rowe Associates Inc. MD bought a new stake in Stardust Power in the 4th quarter valued at $69,000. Finally, Geode Capital Management LLC lifted its position in Stardust Power by 40.3% in the 4th quarter. Geode Capital Management LLC now owns 59,143 shares of the company’s stock valued at $181,000 after acquiring an additional 16,989 shares in the last quarter. 32.79% of the stock is 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.