Stardust Power (NASDAQ:SDST) Issues Quarterly Earnings Results

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

Stardust Power Price Performance

NASDAQ:SDST traded down $0.25 on Friday, reaching $0.44. The stock had a trading volume of 451,583 shares, compared to its average volume of 361,354. Stardust Power has a 12-month low of $0.43 and a 12-month high of $28.38. The firm’s fifty day moving average is $0.88 and its two-hundred day moving average is $4.87.

Analyst Upgrades and Downgrades

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

Insider Transactions at Stardust Power

In other news, CFO Udaychandra Devasper sold 38,943 shares of Stardust Power stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $0.68, for a total value of $26,481.24. Following the completion of the sale, the chief financial officer now owns 161,326 shares of the company’s stock, valued at $109,701.68. The trade was a 19.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 185,582 shares of company stock worth $117,486 over the last ninety days. 65.61% of the stock is currently owned by corporate insiders.

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.