Stardust Power (NASDAQ:SDST) Downgraded to “Strong Sell” Rating by Wall Street Zen

Wall Street Zen cut shares of Stardust Power (NASDAQ:SDST) from a sell rating to a strong sell rating in a report released on Saturday morning.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Stardust Power in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Stardust Power currently has an average rating of “Reduce”.

Stardust Power Price Performance

Stardust Power stock opened at $2.24 on Friday. The firm has a 50-day moving average of $2.66 and a 200-day moving average of $3.34. Stardust Power has a one year low of $1.42 and a one year high of $7.67. The company has a market cap of $22.33 million, a price-to-earnings ratio of -1.12 and a beta of 0.56.

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

Insider Transactions at Stardust Power

In related news, insider Bruce Czachor sold 17,655 shares of the firm’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $2.29, for a total value of $40,429.95. Following the completion of the sale, the insider directly owned 22,345 shares in the company, valued at approximately $51,170.05. This trade represents a 44.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 27,041 shares of company stock valued at $62,140. Company insiders own 55.30% of the company’s stock.

Institutional Investors Weigh In On Stardust Power

Hedge funds have recently bought and sold shares of the company. State Street Corp acquired a new stake in Stardust Power in the 4th quarter valued at about $44,000. Price T Rowe Associates Inc. MD acquired a new stake in Stardust Power in the 4th quarter valued at about $69,000. Finally, Geode Capital Management LLC raised its holdings in Stardust Power by 40.3% in the 4th quarter. Geode Capital Management LLC now owns 59,143 shares of the company’s stock valued at $181,000 after acquiring an additional 16,989 shares during the period. 32.79% of the stock is currently owned by institutional investors and hedge funds.

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.