Udaychandra Devasper Sells 3,927 Shares of Stardust Power (NASDAQ:SDST) Stock

Stardust Power Inc. (NASDAQ:SDST) CFO Udaychandra Devasper sold 3,927 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $3.49, for a total value of $13,705.23. Following the transaction, the chief financial officer directly owned 68,558 shares in the company, valued at approximately $239,267.42. This trade represents a 5.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Stardust Power Stock Performance

Shares of SDST traded down $0.18 during mid-day trading on Wednesday, reaching $3.29. The company’s stock had a trading volume of 50,478 shares, compared to its average volume of 82,722. Stardust Power Inc. has a 1-year low of $1.42 and a 1-year high of $55.00. The business has a 50-day simple moving average of $4.09 and a two-hundred day simple moving average of $3.81.

Stardust Power (NASDAQ:SDST) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.53) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.23). On average, equities research analysts expect that Stardust Power Inc. will post -0.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SDST shares. Wall Street Zen cut Stardust Power to a “strong sell” rating in a report on Saturday, September 13th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Stardust Power in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $28.17.

Hedge Funds Weigh In On Stardust Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Armistice Capital LLC bought a new stake in shares of Stardust Power during the 1st quarter valued at $2,134,000. Landscape Capital Management L.L.C. bought a new position in shares of Stardust Power in the first quarter worth $160,000. Finally, Warberg Asset Management LLC acquired a new position in Stardust Power in the second quarter valued at about $35,000. 32.79% of the stock is owned by institutional investors and hedge funds.

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.