Stardust Power Inc. (NASDAQ:SDST) Short Interest Update

Stardust Power Inc. (NASDAQ:SDST) was the recipient of a significant decline in short interest in February. As of February 13th, there was short interest totaling 426,467 shares, a decline of 20.4% from the January 29th total of 535,764 shares. Based on an average daily trading volume, of 76,283 shares, the short-interest ratio is presently 5.6 days. Approximately 9.7% of the shares of the company are short sold. Approximately 9.7% of the shares of the company are short sold. Based on an average daily trading volume, of 76,283 shares, the short-interest ratio is presently 5.6 days.

Hedge Funds Weigh In On Stardust Power

A number of institutional investors have recently modified their holdings of SDST. Warberg Asset Management LLC bought a new stake in shares of Stardust Power during the second quarter valued at approximately $35,000. State Street Corp acquired a new position in Stardust Power during the 4th quarter worth $44,000. Price T Rowe Associates Inc. MD bought a new position in Stardust Power in the 4th quarter valued at $69,000. Finally, Geode Capital Management LLC lifted its stake in shares of Stardust Power by 40.3% during the fourth 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 owned by institutional investors.

Stardust Power Trading Down 2.3%

NASDAQ SDST traded down $0.08 during trading hours on Tuesday, reaching $3.33. 46,453 shares of the company’s stock were exchanged, compared to its average volume of 58,601. Stardust Power has a one year low of $1.42 and a one year high of $8.43. The stock has a market cap of $32.70 million, a PE ratio of -0.85 and a beta of 0.29. The firm has a fifty day moving average of $3.67 and a 200-day moving average of $3.75.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Stardust Power in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Stardust Power presently has a consensus rating of “Moderate Buy” and an average price target of $17.00.

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.