Stardust Power (NASDAQ:SDST) Posts Quarterly Earnings Results, Misses Estimates By $0.14 EPS

Stardust Power (NASDAQ:SDST) released its quarterly earnings data on Thursday. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.14), Zacks reports.

Stardust Power Price Performance

Shares of NASDAQ:SDST traded down $0.25 on Friday, reaching $0.44. The company’s stock had a trading volume of 451,583 shares, compared to its average volume of 361,354. Stardust Power has a 52-week low of $0.43 and a 52-week high of $28.38. The stock’s 50-day moving average is $0.88 and its two-hundred day moving average is $4.87.

Analyst Ratings Changes

SDST has been the topic of a number of research analyst reports. Alliance Global Partners started coverage on shares of Stardust Power in a report on Thursday, February 6th. They set a “buy” rating and a $5.00 price objective on the stock. Maxim Group began coverage on shares of Stardust Power in a research note on Thursday, February 27th. They issued a “buy” rating and a $1.75 price objective for the company. Finally, Roth Mkm reaffirmed a “buy” rating and set a $13.00 price objective on shares of Stardust Power in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $7.94.

Insider Buying and Selling

In other news, CFO Udaychandra Devasper sold 38,943 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $0.68, for a total transaction of $26,481.24. Following the completion of the sale, the chief financial officer now owns 161,326 shares in the company, valued at $109,701.68. This represents a 19.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 185,582 shares of company stock valued at $117,486 over the last quarter. 65.61% of the stock is currently owned by insiders.

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.