Chris Edward Celano Sells 25,975 Shares of Stardust Power (NASDAQ:SDST) Stock

Stardust Power Inc. (NASDAQ:SDST) COO Chris Edward Celano sold 25,975 shares of the company’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $2.05, for a total transaction of $53,248.75. Following the completion of the sale, the chief operating officer directly owned 102,383 shares in the company, valued at $209,885.15. This represents a 20.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Chris Edward Celano also recently made the following trade(s):

• On Friday, March 20th, Chris Edward Celano sold 3,457 shares of Stardust Power stock. The shares were sold at an average price of $2.32, for a total transaction of $8,020.24.

Stardust Power Price Performance

SDST opened at $2.65 on Friday. Stardust Power Inc. has a 12-month low of $1.42 and a 12-month high of $7.67. The firm’s fifty day moving average price is $2.56 and its 200 day moving average price is $3.25. The stock has a market capitalization of $26.42 million, a PE ratio of -1.33 and a beta of 0.56.

Stardust Power (NASDAQ:SDST) last released its earnings results on Thursday, May 14th. The company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.14).

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wall Street Zen lowered shares of Stardust Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Stardust Power in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On Stardust Power

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC grew its position 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 worth $181,000 after acquiring an additional 16,989 shares during the last quarter. Price T Rowe Associates Inc. MD bought a new position in shares of Stardust Power during the fourth quarter worth about $69,000. Finally, State Street Corp bought a new position in shares of Stardust Power during the fourth quarter worth about $44,000. Institutional investors own 32.79% of the company’s stock.

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.