Stardust Power (NASDAQ:SDST) CFO Udaychandra Devasper Sells 35,776 Shares

Stardust Power Inc. (NASDAQ:SDST) CFO Udaychandra Devasper sold 35,776 shares of Stardust Power stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 121,611 shares in the company, valued at $246,870.33. This trade represents a 22.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 Trading Up 7.8%

Shares of SDST stock traded up $0.17 during trading hours on Thursday, hitting $2.34. 45,241 shares of the company’s stock were exchanged, compared to its average volume of 301,248. The company has a market capitalization of $23.33 million, a PE ratio of -1.17 and a beta of 0.56. Stardust Power Inc. has a 12-month low of $1.42 and a 12-month high of $7.67. The business’s 50 day simple moving average is $2.59 and its 200-day simple moving average is $3.27.

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

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Stardust Power in a research note on Tuesday, April 21st. Wall Street Zen downgraded shares of Stardust Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Stardust Power has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SDST. State Street Corp purchased a new position in shares of Stardust Power in the fourth quarter worth $44,000. Price T Rowe Associates Inc. MD purchased a new position in Stardust Power during the 4th quarter valued at $69,000. Finally, Geode Capital Management LLC increased its position in 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 purchasing an additional 16,989 shares during the period. 32.79% of the stock is owned by hedge funds and other institutional investors.

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.