Insider Selling: Stardust Power (NASDAQ:SDST) Insider Sells $40,429.95 in Stock

Stardust Power Inc. (NASDAQ:SDST) insider Bruce Czachor sold 17,655 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $2.29, for a total transaction of $40,429.95. Following the completion of the sale, the insider owned 22,345 shares in the company, valued at $51,170.05. This represents a 44.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Stardust Power Trading Up 2.6%

NASDAQ:SDST opened at $2.38 on Friday. The company has a market cap of $23.37 million, a PE ratio of -1.10 and a beta of 0.29. The company has a 50 day simple moving average of $3.45 and a two-hundred day simple moving average of $3.62. Stardust Power Inc. has a 12 month low of $1.42 and a 12 month high of $8.43.

Stardust Power (NASDAQ:SDST) last released its quarterly earnings results on Wednesday, March 25th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.12. Research analysts forecast that Stardust Power Inc. will post -0.63 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD purchased a new position in shares of Stardust Power during the 4th quarter worth $69,000. Geode Capital Management LLC increased its stake in shares of Stardust Power by 40.3% in the 4th quarter. Geode Capital Management LLC now owns 59,143 shares of the company’s stock worth $181,000 after purchasing an additional 16,989 shares in the last quarter. Finally, State Street Corp purchased a new stake in shares of Stardust Power in the 4th quarter worth $44,000. 32.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Stardust Power in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Stardust Power presently has an average rating of “Moderate Buy” and an average target price of $17.00.

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.