Stardust Power (NASDAQ:SDST) CFO Udaychandra Devasper Sells 4,507 Shares

Stardust Power Inc. (NASDAQ:SDST) CFO Udaychandra Devasper sold 4,507 shares of the firm’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $2.31, for a total value of $10,411.17. Following the completion of the sale, the chief financial officer owned 157,387 shares in the company, valued at approximately $363,563.97. This represents a 2.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Stardust Power Price Performance

Shares of NASDAQ SDST opened at $2.45 on Wednesday. The company has a market capitalization of $24.06 million, a price-to-earnings ratio of -0.62 and a beta of 0.29. Stardust Power Inc. has a 1 year low of $1.42 and a 1 year high of $8.43. The business has a 50-day moving average of $3.53 and a two-hundred day moving average of $3.63.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Stardust Power

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Stardust Power by 40.3% during the fourth quarter. Geode Capital Management LLC now owns 59,143 shares of the company’s stock worth $181,000 after purchasing an additional 16,989 shares in the last quarter. Price T Rowe Associates Inc. MD purchased a new position in Stardust Power in the fourth quarter valued at about $69,000. Finally, State Street Corp purchased a new position in shares of Stardust Power in the fourth quarter valued at $44,000. 32.79% of the stock is 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.