Stardust Power (NASDAQ:SDST) CFO Udaychandra Devasper Sells 35,776 Shares of Stock

Stardust Power Inc. (NASDAQ:SDST) CFO Udaychandra Devasper sold 35,776 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $2.03, for a total value of $72,625.28. Following the transaction, the chief financial officer owned 121,611 shares in the company, valued at $246,870.33. The trade was a 22.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Udaychandra Devasper also recently made the following trade(s):

• On Friday, March 20th, Udaychandra Devasper sold 4,507 shares of Stardust Power stock. The shares were sold at an average price of $2.31, for a total value of $10,411.17.

Stardust Power Stock Performance

NASDAQ SDST opened at $2.34 on Friday. The company has a market capitalization of $23.33 million, a price-to-earnings ratio of -1.17 and a beta of 0.56. The company’s 50-day simple moving average is $2.57 and its two-hundred day simple moving average is $3.25. Stardust Power Inc. has a one year low of $1.42 and a one year high of $7.67.

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SDST. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Stardust Power in a research report on Tuesday, April 21st. Wall Street Zen cut Stardust Power from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Institutional Investors Weigh In On Stardust Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SDST. Geode Capital Management LLC lifted its stake in shares of Stardust Power by 40.3% in the 4th quarter. Geode Capital Management LLC now owns 59,143 shares of the company’s stock valued at $181,000 after purchasing an additional 16,989 shares during the last quarter. Price T Rowe Associates Inc. MD acquired a new stake in shares of Stardust Power during the 4th quarter worth about $69,000. Finally, State Street Corp purchased a new stake in Stardust Power in the 4th quarter valued at about $44,000. Institutional investors and hedge funds 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.