Insider Selling: Stardust Power (NASDAQ:SDST) CEO Sells $223,290.86 in Stock

Stardust Power Inc. (NASDAQ:SDST) CEO Roshen Pujari sold 102,427 shares of the firm’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 sale, the chief executive officer owned 502,771 shares in the company, valued at approximately $1,096,040.78. This represents a 16.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Roshen Pujari also recently made the following trade(s):

• On Friday, March 20th, Roshen Pujari sold 1,132 shares of Stardust Power stock. The shares were sold at an average price of $2.31, for a total transaction of $2,614.92.

Stardust Power Stock Performance

SDST stock opened at $2.28 on Friday. The firm has a market cap of $24.12 million, a PE ratio of -1.14 and a beta of 0.56. The firm’s fifty day moving average is $2.52 and its 200 day moving average is $3.19. Stardust Power Inc. has a one year low of $1.42 and a one year high of $7.67.

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 Trading of Stardust Power

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

Analyst Ratings Changes

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