Pablo Cortegoso Sells 123,614 Shares of Stardust Power (NASDAQ:SDST) Stock

Stardust Power Inc. (NASDAQ:SDST) insider Pablo Cortegoso sold 123,614 shares of Stardust Power stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $0.13, for a total value of $16,069.82. Following the completion of the transaction, the insider owned 462,973 shares of the company’s stock, valued at approximately $60,186.49. The trade was a 21.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Stardust Power Trading Down 50.3%

Shares of NASDAQ SDST opened at $0.12 on Friday. The company has a market capitalization of $1.76 million, a price-to-earnings ratio of -0.07 and a beta of 0.56. Stardust Power Inc. has a twelve month low of $0.11 and a twelve month high of $7.67. The business has a 50 day simple moving average of $0.74 and a 200-day simple moving average of $1.80.

Stardust Power (NASDAQ:SDST) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.04.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Stardust Power from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 15th. Weiss Ratings restated a “sell (e+)” rating on shares of Stardust Power in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Stardust Power presently has an average rating of “Sell”.

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.