Stardust Power (NASDAQ:SDST) Insider Pablo Cortegoso Sells 123,614 Shares of Stock

Stardust Power Inc. (NASDAQ:SDST) insider Pablo Cortegoso sold 123,614 shares of the firm’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $0.13, for a total value of $16,069.82. Following the transaction, the insider directly owned 462,973 shares in the company, valued at $60,186.49. This trade represents a 21.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Stardust Power Stock Up 57.6%

SDST stock opened at $0.25 on Friday. The company has a market capitalization of $3.53 million, a P/E ratio of -0.14 and a beta of 0.56. The company has a 50-day simple moving average of $0.77 and a 200 day simple moving average of $1.82. Stardust Power Inc. has a fifty-two week low of $0.11 and a fifty-two week high of $7.67.

Stardust Power (NASDAQ:SDST) last released its earnings results on Thursday, August 13th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.04.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SDST. Weiss Ratings reiterated a “sell (e+)” rating on shares of Stardust Power in a research report on Friday, July 17th. Wall Street Zen raised Stardust Power from a “strong sell” rating to a “sell” rating in a report on Saturday, August 15th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock has an average rating of “Sell”.

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.