Stardust Power (NASDAQ:SDST) COO Sells $53,248.75 in Stock

Stardust Power Inc. (NASDAQ:SDST) COO Chris Edward Celano sold 25,975 shares of Stardust Power stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $2.05, for a total value of $53,248.75. Following the transaction, the chief operating officer directly owned 102,383 shares in the company, valued at approximately $209,885.15. This trade represents a 20.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 stock was sold at an average price of $2.32, for a total value of $8,020.24.

Stardust Power Stock Up 7.8%

SDST traded up $0.17 during trading on Thursday, hitting $2.34. 45,241 shares of the stock were exchanged, compared to its average volume of 301,248. The firm has a market capitalization of $23.33 million, a P/E ratio of -1.17 and a beta of 0.56. Stardust Power Inc. has a 1-year low of $1.42 and a 1-year high of $7.67. The stock has a fifty day moving average price of $2.59 and a two-hundred day moving average price of $3.27.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. State Street Corp acquired a new position in shares of Stardust Power in the fourth quarter valued at approximately $44,000. Geode Capital Management LLC grew 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 acquiring an additional 16,989 shares during the period. Finally, Price T Rowe Associates Inc. MD acquired a new position in Stardust Power during the fourth quarter worth $69,000. Institutional investors and hedge funds own 32.79% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Weiss Ratings reissued a “sell (e+)” rating on shares of Stardust Power in a report on Tuesday, April 21st. Wall Street Zen lowered Stardust Power from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

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.