Short Interest in Stardust Power Inc. (NASDAQ:SDST) Decreases By 40.3%

Stardust Power Inc. (NASDAQ:SDST) saw a large decline in short interest in May. As of May 29th, there was short interest totaling 283,131 shares, a decline of 40.3% from the May 14th total of 474,017 shares. Based on an average daily volume of 116,779 shares, the short-interest ratio is presently 2.4 days. Currently, 6.0% of the shares of the stock are sold short.

Stardust Power Trading Up 1.1%

Shares of Stardust Power stock traded up $0.02 during trading on Monday, reaching $1.86. The company’s stock had a trading volume of 68,889 shares, compared to its average volume of 292,659. The stock has a 50-day moving average price of $2.44 and a two-hundred day moving average price of $3.07. Stardust Power has a one year low of $1.43 and a one year high of $7.67. The stock has a market capitalization of $19.68 million, a P/E ratio of -0.93 and a beta of 0.50.

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

Analyst Ratings Changes

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

Insider Activity

In other news, insider Bruce Czachor sold 17,655 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $2.29, for a total value of $40,429.95. Following the sale, the insider owned 22,345 shares in the company, valued at approximately $51,170.05. The trade was a 44.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Roshen Pujari sold 102,427 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $2.18, for a total transaction of $223,290.86. Following the completion of the sale, the chief executive officer owned 502,771 shares in the company, valued at $1,096,040.78. This represents a 16.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 191,219 shares of company stock worth $411,305 over the last 90 days. 55.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. State Street Corp bought a new position in shares of Stardust Power in the fourth quarter valued at about $44,000. Price T Rowe Associates Inc. MD bought a new position in shares of Stardust Power in the fourth quarter valued at about $69,000. Finally, Geode Capital Management LLC raised its holdings in shares of Stardust Power by 40.3% in the fourth quarter. Geode Capital Management LLC now owns 59,143 shares of the company’s stock valued at $181,000 after buying an additional 16,989 shares during the last quarter. 32.79% of the stock is owned by institutional investors.

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.