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 released on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Stardust Power in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

Stardust Power Trading Down 4.4%

SDST stock opened at $2.82 on Friday. The stock has a market capitalization of $28.12 million, a PE ratio of -1.30 and a beta of 0.43. Stardust Power has a 12-month low of $1.42 and a 12-month high of $8.43. The stock’s 50 day simple moving average is $3.00 and its 200 day simple moving average is $3.60.

Stardust Power (NASDAQ:SDST) last released its quarterly earnings data on Wednesday, March 25th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.12.

Insider Buying and Selling at Stardust Power

In other news, insider Bruce Czachor sold 17,655 shares of the stock in a transaction on Friday, March 20th. The stock was sold at an average price of $2.29, for a total transaction of $40,429.95. Following the transaction, the insider directly owned 22,345 shares of the company’s stock, valued at $51,170.05. This represents a 44.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 27,041 shares of company stock worth $62,140. 55.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Stardust Power

Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp bought a new position in shares of Stardust Power during the 4th quarter valued at $44,000. Geode Capital Management LLC lifted its holdings in shares of Stardust Power by 40.3% during the 4th quarter. Geode Capital Management LLC now owns 59,143 shares of the company’s stock valued at $181,000 after buying an additional 16,989 shares during the period. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Stardust Power during the 4th quarter valued at $69,000. 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.