Stardust Power (NASDAQ:SDST) Issues Earnings Results

Stardust Power (NASDAQ:SDST) released its quarterly earnings results on Thursday. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.14), Zacks reports.

Stardust Power Trading Down 34.6 %

SDST traded down $0.24 during midday trading on Friday, hitting $0.45. The company had a trading volume of 557,858 shares, compared to its average volume of 361,678. The stock’s 50 day moving average price is $0.88 and its 200 day moving average price is $4.87. Stardust Power has a 52 week low of $0.43 and a 52 week high of $28.38.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Alliance Global Partners assumed coverage on shares of Stardust Power in a research report on Thursday, February 6th. They set a “buy” rating and a $5.00 price objective for the company. Maxim Group began coverage on Stardust Power in a report on Thursday, February 27th. They set a “buy” rating and a $1.75 price target for the company. Finally, Roth Mkm reissued a “buy” rating and issued a $13.00 price objective on shares of Stardust Power in a research note on Wednesday, December 18th. Three research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $7.94.

Insider Transactions at Stardust Power

In related news, CFO Udaychandra Devasper sold 38,943 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $0.68, for a total transaction of $26,481.24. Following the transaction, the chief financial officer now directly owns 161,326 shares of the company’s stock, valued at approximately $109,701.68. This represents a 19.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 185,582 shares of company stock valued at $117,486 in the last 90 days. 65.61% of the stock is currently owned by corporate insiders.

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.