Stardust Power (NASDAQ:SDST) Announces Quarterly Earnings Results

Stardust Power (NASDAQ:SDST) released its quarterly earnings data on Thursday. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.14), Zacks reports.

Stardust Power Trading Down 34.6 %

NASDAQ:SDST traded down $0.24 on Friday, hitting $0.45. The stock had a trading volume of 557,858 shares, compared to its average volume of 361,678. Stardust Power has a 1 year low of $0.43 and a 1 year high of $28.38. The firm’s fifty day simple moving average is $0.88 and its two-hundred day simple moving average is $4.87.

Insider Activity

In related news, CFO Udaychandra Devasper sold 38,943 shares of the business’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $0.68, for a total value of $26,481.24. Following the transaction, the chief financial officer now directly owns 161,326 shares of the company’s stock, valued at approximately $109,701.68. The trade was a 19.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 185,582 shares of company stock valued at $117,486 over the last three months. Corporate insiders own 65.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Maxim Group started coverage on shares of Stardust Power in a report on Thursday, February 27th. They issued a “buy” rating and a $1.75 target price on the stock. Roth Mkm reissued a “buy” rating and issued a $13.00 price objective on shares of Stardust Power in a research note on Wednesday, December 18th. Finally, Alliance Global Partners assumed coverage on Stardust Power in a research report on Thursday, February 6th. They set a “buy” rating and a $5.00 target price on the stock. Three analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Stardust Power currently has a consensus rating of “Buy” and a consensus target price of $7.94.

Stardust Power Company Profile

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.