Stardust Power (NASDAQ:SDST) Announces Earnings Results

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

Stardust Power Stock Performance

SDST opened at $0.50 on Friday. Stardust Power has a twelve month low of $0.41 and a twelve month high of $28.38. The business has a 50 day moving average price of $0.84 and a 200 day moving average price of $4.82.

Analysts Set New Price Targets

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

Insider Buying and Selling at Stardust Power

In other Stardust Power news, CFO Udaychandra Devasper sold 38,943 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $0.68, for a total transaction of $26,481.24. Following the completion of the sale, the chief financial officer now directly owns 161,326 shares in the company, valued at $109,701.68. This represents a 19.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 185,582 shares of company stock worth $117,486 over the last 90 days. Insiders own 65.61% 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.