Insider Selling: Stardust Power (NASDAQ:SDST) CEO Sells 102,427 Shares of Stock

Stardust Power Inc. (NASDAQ:SDST) CEO Roshen Pujari sold 102,427 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 502,771 shares in the company, valued at $1,096,040.78. The trade was a 16.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 Price Performance

Shares of Stardust Power stock traded up $0.07 on Thursday, hitting $2.39. The company had a trading volume of 95,243 shares, compared to its average volume of 295,108. The business has a 50-day simple moving average of $2.53 and a 200-day simple moving average of $3.21. The company has a market cap of $25.29 million, a PE ratio of -1.20 and a beta of 0.56. Stardust Power Inc. has a 52 week low of $1.42 and a 52 week high of $7.67.

Stardust Power (NASDAQ:SDST) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.14).

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Stardust Power in a report on Tuesday, April 21st. Wall Street Zen cut shares of Stardust Power from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

Institutional Trading of Stardust Power

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

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.