Stardust Power Inc. (NASDAQ:SDST) Short Interest Update

Stardust Power Inc. (NASDAQ:SDST) was the recipient of a large decline in short interest in July. As of July 31st, there was short interest totaling 332,161 shares, a decline of 37.8% from the July 15th total of 534,184 shares. Currently, 4.8% of the company’s stock are sold short. Based on an average trading volume of 344,417 shares, the short-interest ratio is presently 1.0 days.

Stardust Power Trading Down 4.9%

Shares of NASDAQ:SDST traded down $0.03 during trading on Tuesday, hitting $0.64. 175,840 shares of the company were exchanged, compared to its average volume of 460,904. The stock has a market cap of $6.74 million, a price-to-earnings ratio of -0.36 and a beta of 0.61. Stardust Power has a fifty-two week low of $0.50 and a fifty-two week high of $7.67. The firm has a fifty day moving average price of $1.42 and a two-hundred day moving average price of $2.36.

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 analysts’ consensus estimates of ($0.39) by $0.04.

Wall Street Analyst Weigh In

SDST has been the topic of a number of research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Stardust Power in a research report on Friday, July 17th. Wall Street Zen raised shares of Stardust Power from a “strong sell” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Insiders Place Their Bets

In other Stardust Power news, CEO Roshen Pujari sold 102,427 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $2.18, for a total transaction of $223,290.86. Following the completion of the transaction, the chief executive officer owned 502,771 shares of the company’s stock, valued at $1,096,040.78. This represents a 16.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 107,482 shares of company stock worth $233,114. Corporate insiders own 34.51% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SDST. State Street Corp bought a new stake in shares of Stardust Power in the 4th quarter valued at about $44,000. Price T Rowe Associates Inc. MD acquired a new stake in Stardust Power in the 4th quarter valued at about $69,000. Finally, Geode Capital Management LLC increased its position 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 during the last quarter. 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.