Analysts Set Stardust Power Inc. (NASDAQ:SDST) Price Target at $28.17

Stardust Power Inc. (NASDAQ:SDST) has been given an average rating of “Moderate Buy” by the five research firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $28.1667.

SDST has been the subject of several recent research reports. Wall Street Zen lowered shares of Stardust Power to a “strong sell” rating in a research report on Saturday, September 13th. Weiss Ratings reissued a “sell (e+)” rating on shares of Stardust Power in a research note on Wednesday, October 8th.

Stardust Power Trading Up 3.8%

Shares of NASDAQ SDST opened at $3.56 on Friday. The company has a market cap of $34.96 million, a price-to-earnings ratio of -0.91 and a beta of 0.25. Stardust Power has a 12-month low of $1.42 and a 12-month high of $70.25. The stock’s 50 day simple moving average is $4.05 and its 200 day simple moving average is $4.04.

Stardust Power (NASDAQ:SDST) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($0.53) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.23). As a group, equities analysts forecast that Stardust Power will post -0.63 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stardust Power

Hedge funds and other institutional investors have recently made changes to their positions in the business. Armistice Capital LLC bought a new position in Stardust Power in the 1st quarter worth approximately $2,134,000. Landscape Capital Management L.L.C. bought a new position in shares of Stardust Power in the first quarter worth $160,000. Finally, Warberg Asset Management LLC bought a new position in shares of Stardust Power in the second quarter worth $35,000. 32.79% of the stock is currently owned by institutional investors and hedge funds.

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.